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Californian Billionaire Don Hankey Backs Donald Trump’s $175 Million Bond In New York Civil Fraud Case!

Don Hankey, the Californian Billionaire, played a pivotal role in Donald Trump's ability to post a $175 million bond. This allowed Trump to avoid immediate enforcement of the court's judgment. Hankey's company, Knight Insurance, underwrote the bond, providing Trump with the necessary time to appeal the verdict.

The New York Civil Court ordered former President Donald Trump to present a $175 million bond within 10 days of the ruling on March 25. Otherwise, the court will enable the immediate collection of his assets to cover the original order of $464 Million. Under New York’s law, a defendant can offer a bond and pause the collection of judgment money. 

However, Donald Trump’s civil fraud case was exceptional. Nearly 30 underwriting companies turned the Republican candidate down because the bond was too large. Insurance companies usually cap out at $100 Million. Only Knight Insurance reached out and helped Trump put up the bond.

Don Hankey, a billionaire worth $7.4 Billion, said, “This is what we do at Knight Insurance. I would have done the same for any other client who needs a bond.”

Hankey’s income streams are quite diversified. However, the business that made him a billionaire was offering high-interest auto loans to customers with poor credit histories. It's called subprime auto loans.

Even though the Californian business tycoon has made business transactions with Trump in the past, he denies ever talking to him personally on the phone. He said, “Yes, I voted for him in the past, but this is a business deal, and this is what we do. I have never met or talked to Donald Trump on the phone."

For now, Donald Trump is saved from a property seizure. The civil fraud case was authored by Attorney General Letitia James, who claimed that Trump and his executives have been defrauding banks and insurance companies by misrepresenting their assets' net worth. Even though Judge Engoron's verdict was not in his favor, he has vowed to appeal the judgment.

Trump’s attorney said, “Donald Trump has posted bond as promised. He looks forward to vindicating his rights on appeal and overturning this unjust verdict.”

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