Trump and Co-Defendants Post $175 Million Bond in Civil Fraud Case

Former President Donald Trump and his co-defendants in his New York civil fraud case on Monday posted a bond of $175 million, following a judge's ruling that they had for years misrepresented the value of his properties. The bond is underwritten by an insurance company run by a billionaire, who got his start making high-risk, high-interest loans to car buyers with poor credit. Don Hankey, the executive whose company provided the bond, is a little-known mogul who built his $7.

4 billion fortune through car dealerships and providing subprime auto loans, according to Forbes magazine. That makes him richer than Trump, whom Forbes estimates is worth $6.4 billion, including his multibillion stake in the newly public Trump Media & Technology Group. Hankey, who told The Associated Press he has never met nor spoken with Trump, said his Knight Speciality Insurance company provided both cash and bonds as collateral for Trump's appellate bond

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Trump and co-defendants post $175 million bond in New York civil fraud caseFormer President Donald Trump and co-defendants in his New York civil fraud case have posted a bond of $175 million, according to a court filing Monday by an insurance company. The posting brings to an end a six-week ordeal in which Trump scrambled to fend off possible seizure of property or assets stemming from a $464 million judgment by a judge who found he gained hundreds of millions through a yearslong fraud scheme targeting banks and insurers. Trump was required to post bond to avoid enforcement of the judgment pending his appeal.
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