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real-human
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 Posted: Tue Apr 02, 2024 2:23 pm Post subject: |
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ooo he did not have the 175mil ...
https://www.msn.com/en-us/money/companies/don-hankey-ceo-who-backed-donald-trump-s-bond-under-scrutiny/ar-BB1kVIIG?ocid=winp2fptaskbarhover&cvid=07f55075823046a0a14d79fb9fde7082&ei=88
Don Hankey, CEO Who Backed Donald Trump's Bond, Under Scrutiny
| Quote: | Don Hankey, the chair of the company that helped Donald Trump pay his civil fraud bond, has come under scrutiny because of the company's ongoing relationship with the Trump family and its links to another company that has been the subject of controversy.
On April 1, the former president posted a $175 million bond, preventing the state from seizing his assets while he appeals a ruling that he and top executives at The Trump Organization inflated the value of his assets to obtain more favorable terms from lenders and insurers.
In his ruling, Judge Arthur Engoron originally said Trump would have to pay about $464 million in penalties for fraud, plus interest, but the former president succeeded in getting the bond reduced.
Trump, the presumptive Republican nominee in the 2024 presidential election, then secured the bond through Knight Specialty Insurance Company, which is owned by the privately held Hankey Group. Hankey heads both organizations.
He is also the largest individual shareholder in the internet bank Axos, holding 6 percent of the company, Forbes reported.
Writing on X, formerly Twitter, legal analyst Lisa Rubin scrutinized Hankey and Axos. She said the business owner was known as the "king of subprime car loans."
Axos refinanced Trump Tower in 2022 for $100 million. Meanwhile, the bank has financed real-estate transactions with Jared Kushner's Kushner Companies. Kushner is married to Trump's daughter Ivanka Trump and served as an adviser in Trump's administration.
The bank has been the subject of lawsuits. In 2015, Charles Matthew Erhart, a company whistleblower, filed a lawsuit against Axos alleging unlawful retaliation for being fired after he raised concerns about practices at the bank. In May 2022, he was awarded $1 million in damages for emotional distress or harm to his reputation and $500,000 for defamatory statements about him.
He has said the bank had dubious business practices, including allowing criminal borrowers, and that CEO Gregory Garrabrants had deposited third-party checks into his personal account. The bank has consistently denied these allegations.
The bank has also been criticized for charging high interest rates. In 2021, Senator Elizabeth Warren called out the Office of the Comptroller of the Currency, Axos' federal regulator, for not taking enforcement action against Axos over a loan with a 92 percent interest rate.
Financial disclosures also show that Hankey has donated to Republican causes, including Trump's 2016 campaign and Mitt Romney's 2012 presidential campaign. In his business, Hankey offers loans to credit-challenged car buyers, Forbes reported.
Newsweek contacted Hankey, Axos and a representative for Trump for comment by email.
After helping Trump pay his bond, Hankey told ABC News that he is a Trump supporter.
"This is what we do at Knight Insurance, and we're happy to be able to accommodate the ex-president in this situation," Hankey said "I'd say it's more of a business decision, but I happen to be a supporter also."
"It was a relatively low number, and Donald Trump put up all the collateral in cash," he added.
On Truth Social, the former president wrote about his bond payment: "I've just posted a 175 Million Dollar Bond with the sadly failing and very troubled State of New York, based on a Corrupt Judge and Attorney General who used a Statute that was never used for this before, where no Jury was allowed, my financial statements were conservative and had a 100% perfect caution/non-reliance clause, there were no victims (except me!), there was no crime or damage, there was only success and HAPPY BANKS."
"As promised, President Trump has posted bond," Alina Habba, Trump's attorney, said in a statement on April 1. "He looks forward to vindicating his rights on appeal and overturning this unjust verdict." |
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real-human
Joined: 02 Jul 2011
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| Posted: Wed Apr 10, 2024 10:56 pm Post subject: |
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https://www.youtube.com/watch?v=TB0PH9sxl8g
more on Don... the car rip off and more rip offs that trump let off when he won...
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real-human
Joined: 02 Jul 2011
Posts: 14893
Location: on earth
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| Posted: Fri Apr 19, 2024 7:38 pm Post subject: |
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so the guy who was giving ultra high interest loans to military service members who Obamas justice department was in the process of indicting him, but mysteriously aftr trump took office those investigations disapeared.... and so on with his caymen island tax hiding can not show he has the assets.
https://www.cnbc.com/2024/04/19/new-york-ag-says-175-million-trump-fraud-bond-isnt-properly-backed-should-be-voided.html
New York AG says $175 million Trump fraud bond isn’t properly backed, should be voided
| Quote: | *The New York Attorney General’s office asked a judge to void a $175 million bond posted by former President Donald Trump to secure a much larger monetary damage award in his civil business fraud case.
*The Attorney General’s office in a court filing said Trump and other defendants in the case had failed to show there is enough identifiable collateral to back the bond.
The New York Attorney General’s office on Friday asked a judge to effectively void a $175 million bond posted by former President Donald Trump to secure a much larger monetary damage award in his civil business fraud case as he appeals the judgment.
The AG’s office in a filing said Trump and other defendants in the case had failed to show there is enough identifiable collateral to back the bond for the judgment in Manhattan Supreme Court.
The filing notes that the surety Trump used to obtain the bond, Knight Specialty Insurance Company, is “a small insurer that is not authorized to write business in New York and thus not regulated by the state’s insurance department, had never before written a surety bond in New York or in the prior two years in any other jurisdiction, and has a total policyholder surplus of just $138 million.”
The filing opposes a joint motion by Trump and KSIC to justify the insurer as the surety company holding the bond.
Lawyers for AG Letitia James asked Judge Arthur Engoron to require Trump and other defendants to put up a replacement bond within seven days of ruling on the issue. James’ lawsuit against Trump led to the massive civil judgment against him.
A hearing on the bond dispute is set for Monday.
Engoron in February found Trump, the Trump Organization and other defendants liable for fraud, saying they had falsely inflated the value of real estate assets for years with the goal of boosting Trump’s net worth. Those actions in turn helped the company get better loan terms and other financial benefits.
Trump personally was ordered to pay $454 million in damages, an amount that is growing every day with interest. He is appealing the verdict.
Trump was required under New York law to post a bond to guarantee the judgment as he appeals the decision.
This is breaking news. Please check back for updat |
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real-human
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| Posted: Sun Apr 21, 2024 9:44 am Post subject: |
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https://www.youtube.com/watch?v=lBC9LJyYtc0
Trump's very bad week: a jury's in the box & NY AG James objects to $175 million bond in fraud case
| Quote: | | It was a really bad, awful, terrible week for Donald Trump. Trump insisted that there was no way a fair jury could be found in Manhattan. And yet, it took only about three trial days to find 12 fair and impartial jurors to sit in judgment of the 34 felony crimes on which Trump is indicted. |
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