Trump Got His $175 Million Bond From a Billionaire Fan's Company
finance.yahoo.com

... A billionaire Donald Trump supporter whose California company is known for subprime auto loans and who has ties to one of the former president's banks arranged his $175 million appeal bond in New York state's civil fraud suit, though he said politics had nothing to do with it.

Don Hankey, whose fortune stems from car dealerships, real estate and financial services, is chairman of Knight Specialty Insurance Co., which posted Trump's bond on Monday, three days before a court-imposed deadline. It gives Trump a lifeline by putting a $454 million judgment on hold while he appeals.

Hankey said Knight reached out to Trump's team to offer its services after hearing about the former president's trouble arranging a bond, which was initially set at 120% of the judgment, or about $540 million. The appeals court lowered the bond to $175 million after Trump said he didn't have enough cash.

"I heard they were looking for somebody and this is what Knight insurance does," Hankey, whose net wealth is estimated at $7.4 billion by Forbes magazine, said in an interview. "We have the liquidity and I'm just happy to provide it."

The 80-year-old billionaire said his support for Trump had nothing to do with his decision to offer his company's services to the former president, who is campaigning to return to the White House in the November election. ...