Trump already owed the billionaire who just helped him post fraud case bond

01 April 2024

One month after Judge Arthur Engoron ordered Donald Trump to pay $464 million at the conclusion of his New York civil fraud trial, a panel of New York Appellate Division judges last week granted the MAGA hopeful ten days to post a $175 million bond instead.

Trump attorneys previously claimed it would be "impossible" for Trump to put up the half-billion judgement.

On Monday, the former president posted the $175 million, meaning he "has likely avoided a worst-case scenario of frozen bank accounts and asset seizure," Axios reports.

MSNBC reported last month New York Attorney General Letitia James said, "We are prepared to make sure that the judgment is paid to New Yorkers, and, yes, I look at 40 Wall St. each and every day."

Keeping her word, she'd already begun to seize "Trump's golf course and private estate north of Manhattan, known as Seven Spring," last week.

"As promised, President Trump has posted bond," Trump lawyer Alina Habba said in a statement, according to ABC News. "He looks forward to vindicating his rights on appeal and overturning this unjust verdict," she added.

According to MSNBC legal correspondent Lisa Rubin, the former president already owed loans from two years ago back to the billionaire who helped him secure the $175 million.

Rubin reports via X (formerly Twitter), "NEW: The company that underwrote Trump's bond tonight in the NY Attorney General's civil fraud case, Knight Specialty Insurance Co., is owned by Don Hankey, the so-called 'king of subprime car loans.' But that's not all."

She continued, "Hankey, who is #128 on Forbes’s 2023 list and #317 on the 2023 Forbes billionaires list, made his money in auto services. But he is also believed to be the largest shareholder in Axos Bank. If Axos sounds familiar, it's because it's the financial institution that refinanced Trump’s loans on Trump Tower and Doral in 2022. Specifically, Axos has loaned Trump $100 million in his refinancing of Trump Tower and another $125 million for Doral."

Rubin noted, "Both loans are not due until 2032, according to the Office of Government Ethics disclosure Trump made in August 2023. The list of his liabilities, as it appears in that filing and which references both Axos loans, is pasted below here."

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