The bond amount for former President Donald Trump has been dropped from over $400 million to less than $200 million. He is being sued for fraud. This happened because of a hearing where it was shown that Donald Trump and his friends and family had been committing business fraud for years.
Trump was able to get this bond from Knight Specialty Insurance Company, a company owned by the Hankey Group. Don Hankey said, “This is what we do at Knight Insurance, and we’re happy to be able to help the ex-president in this situation.” He also said that it was a good business choice, even though he supported the ex-president.
He said that the company was looking at the former President’s original bond amount, which was more than $400 million. Their work to help the former president didn’t stop when the New York court dropped the amount, though.
Hankey said, “It was a pretty low amount, and Donald Trump paid for everything with cash.” Anyway, he said, he knew they “have very good collateral.”
Trump’s lawyer, Alina Habba, said, “As promised, President Trump has posted bond…”He’s excited to fight for his rights on appeal and get this unfair decision thrown out.
Trump, his sons, and two former executives were recently given a smaller bond after Trump said it would be “impossible” to find a bond amount for the original offer. Trump said that thirty different bond companies said no to him.
