Trump and Co-Defendants Secure $175 Million Bond in New York Fraud Case

A court filing reveals that Former President Donald Trump and his co-defendants have successfully obtained a $175 million bond in their New York civil fraud case. The bond was secured through Knight Specialty Insurance Company, owned by the Hankey Group. Don Hankey, the chairman, stated his support for Trump and explained that his company was happy to accommodate the former president’s needs, considering it both a business decision and a personal stance.

Initially involved in discussions for a larger bond, Hankey’s company renewed efforts when the appellate court reduced the amount. Trump provided cash collateral for the bond, with Hankey noting the quality of the collateral. Hankey disclosed his past campaign contributions to Trump but couldn’t recall the exact amount.

The New York attorney general’s office declined to comment on the matter. Trump’s attorney, Alina Habba, confirmed that Trump had posted bond and looked forward to appealing the verdict. Last week, an appellate court granted a stay and permitted a reduced bond, acknowledging Trump’s argument of insufficient cash and potential harm without intervention.

Following a three-month trial, Judge Arthur Engoron fined Trump and his co-defendants for a decade of business fraud. Trump has denied wrongdoing and appealed the ruling, citing the disgorgement amount as unconstitutional and flawed. Defense lawyers argue misapplication of the statute of limitations and failure to prove lenders’ reliance on Trump’s misrepresentations.

If the appeal fails, Trump and co-defendants could be liable for the full $464 million judgment. New York Attorney General Letitia James stated plans to enforce the judgment by seizing assets if Trump lacks funds. In a separate defamation case, Trump secured a $92 million bond through Chubb, using a brokerage account as collateral, and has filed an appeal against the verdict.