New York Attorney General Letitia James may soon begin enforcement proceedings on Donald Trump's properties as an insurance company, Knight Specialty Insurance, faces challenges in posting a $175 million bond for Trump while he appeals a fraud judgment. The company's paperwork has been rejected by a New York court, and questions have been raised about its financial backing. Trump's legal team and the insurance company are facing obstacles in preventing the enforcement proceedings, as the former president was fined $454 million in February for fraudulently inflating the value of his assets.
Don Hankey, chairman of Knight Specialty Insurance, revealed that his firm quickly put together the deal to underwrite Donald Trump’s $175 million bond in New York, with Trump posting all cash as collateral. Hankey, a supporter of Trump's presidential campaigns, stated that his firm would have done it for anyone else and confirmed donations to Trump's campaigns. This isn't the first time Hankey and Trump's businesses were connected, as in 2022, Axos Bank, where Hankey is a leading shareholder, loaned Trump $100 million to refinance the mortgage on Trump Tower.
Don Hankey, chairman of Knight Specialty Insurance, revealed that his firm quickly put together the deal to underwrite Donald Trump’s $175 million bond in New York, with Trump posting all cash as collateral. Knight Specialty Insurance is known for providing subprime auto loans and had previously reached out to the Trump Organization when Trump was having trouble putting together a $464 million bond. Hankey, a supporter of Trump’s presidential campaigns, confirmed that he and his family have donated to Trump’s campaigns in the past and plan to support him again in 2024.
