Former President Donald Trump and Co-Defendants Secure $175 Million Bond in New York Civil Fraud Case

Former President Donald Trump and his co-defendants have secured a $175 million bond in their New York civil fraud case, according to a court filing.

Trump secured the bond through Knight Specialty Insurance Company, which is owned by the privately-held Hankey Group.

Trump secured the $175 million bond through Knight Specialty Insurance Company, which is owned by the privately-held Hankey Group. Don Hankey, the chairman of Hankey Group, has expressed his support for Donald Trump and said the decision to provide the bond was a business decision as well. Hankey’s company was initially involved in talks to underwrite the original $464 million bond, and when the court reduced the amount to $175 million, his company renewed their efforts to underwrite the bond.

Hankey confirmed that Trump put up all the collateral in cash for the bond. Although the use of other bonds as collateral was not confirmed, Hankey mentioned that they reviewed some of Trump’s bonds, which were high quality investment grade securities.

In February, after a three-month trial, Judge Arthur Engoron fined Trump and his co-defendants for their involvement in business fraud. The judge found that they had falsely inflated Trump’s net worth to obtain better loans and business deals, with Engoron remarking that the frauds found in the case were shocking. Trump and his lawyers have denied all wrongdoing and have appealed the ruling.

Last week, a panel of judges from New York’s Appellate Division granted Trump and his co-defendants a 10-day stay of the $464 million judgment in their civil fraud case. The panel also permitted them to post a reduced bond of $175 million. Trump’s lawyers had argued that the former president lacked the cash to secure a bond for the full judgment after being rejected by more than 30 bond companies.

If the appeal fails and Trump does not have the cash to cover the full judgment, New York Attorney General Letitia James could enforce the judgment by seizing Trump’s assets. James has emphasized that if necessary, they will use legal mechanisms to ensure that the judgment is paid to New Yorkers.

Trump has also faced a defamation suit filed by writer E. Jean Carroll, in which a jury found him liable for defaming her. In that case, Trump secured a $92 million bond through insurance company Chubb.