Trump Posts $175M Bond and Appeals New York Civil Fraud Verdict
Summary from the AllSides News Team
Less than a week before his deadline, former President Donald Trump posted a bond of $175 million as he appealed the New York civil fraud verdict against him.
Details: The bond reportedly came from Knight Specialty Insurance Company, owned by Trump supporter Don Hankey, and was posted after Trump had difficulties with over 30 other surety firms.
For Context: Trump faced a potential asset seizure if he was unable to pay the $454 million penalty initially set by the judge. With the bond in place, the enforcement of this penalty will pause as he proceeds with his appeal. The penalty stems from a case brought about by New York Attorney General Letitia James, in which Trump was found guilty of inflating his net worth to secure favorable business loans.
How the Media Covered It: CNN (Lean Left bias) published an interview with Hankey, who described the deal as an “easy transaction” that was “put together very quickly,” emphasizing that Trump posted all cash for collateral, though it was unclear where the money originated. The New York Post (Lean Right bias) also detailed Knight Specialty Insurance's history of extending high-interest loans to car buyers with credit challenges. They noted that Hankey was a known supporter of Trump and had also been financially tied to him in previous business deals. On the other hand, The Hill (Center bias) underscored Trump's adversarial stance towards the case, emphasizing his criticism of New York's legal system and government. This summary was developed with the help of AllSides' AI technology.
Featured Coverage of this Story
From the Left
Billionaire whose firm backed Trump’s $175 million bond reveals how the deal came togetherDon Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York came together quickly and that Trump posted all cash as collateral.
“It’s what we do. I’m happy to do it. We would have done it for anybody else,” Hankey said in a phone interview. “It was an easy transaction. It was put together very quickly.”
Based in California, Knight Specialty Insurance is known for providing subprime auto loans to car buyers with...
From the Center
Trump rips New York fraud case after posting $175M bondFormer President Trump railed against his New York civil fraud case and those involved, calling it a “fabricated election interference con job” just hours after he posted a $175 million bond in the case.
In a lengthy post Monday night on Truth Social, Trump argued the judgment will harm New York and called for the disbarment of Judge Arthur Engoron and New York Attorney General Letitia James (D), who brought the suit against the former president, his business and former executives.
“I’ve just posted a 175 Million Dollar Bond with...
From the Right
Firm that underwrote Trump’s $175M bond known for high-interest loans to car buyers with bad credit historyThe company that underwrote Donald Trump’s $175 million appeal bond in New York state’s civil fraud suit is known for offering subprime auto loans — and owned by a billionaire supporter of the presumptive Republican presidential nominee.
Don Hankey — the California-based businessman who made his $1.6 billion fortune from lending money to auto buyers with flawed credit history, per Forbes — came to Trump’s rescue on Monday three days before a court-imposed deadline.
The multimillion-dollar bond puts a $454 million judgement on hold while Trump appeals a ruling from...
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