(PatriotPostNews.com) – Amid the ongoing drama surrounding former president Donald Trump’s pricey judgment related to business dealings in New York, the state’s attorney general has called for verification from the company that is footing the presumptive GOP nominee’s legal bills.
Letitia James, who first filed the fraud lawsuit against Trump and won in court back in February, asked for a “motion to justify the surety” in the next 10 days of Knight Specialty Insurance being able to pay the $175 million bond on behalf of the defendant. The company has a deal with Trump’s legal team to pay the appeal fees, which were dropped from $454 million by the court of appeals.
On April 3, one day before the attorney general’s request, the New York Supreme Court returned bond paperwork to the defendant’s legal team, asking for corrections but without specifying deficiencies. The request was criticized by a Trump Organization spokesperson, who described it as “pure harassment” and said the bond is “fully collateralized” and supported by cash.
Knight Specialty Insurance is reportedly not registered in the Department of Financial Services. The business provides loans for those with low credit scores who are seeking to buy vehicles. The chairman of the company, Don Hankey, has underwritten the bond, following challenges from Trump’s legal team in connecting with a business willing to hold the hefty bond.
Hankey, an 80-year-old billionaire that is based in California, oversees the Hankey Group—including a Toyota dealership, a real estate firm, and several companies involved in car rentals, auto insurance, and software—all of which holds a $22.5 billion value.
Before the bond was lowered so Trump could appeal the ruling against him, 30 different companies rejected his requests to help cover the bond. Hankey, however, contacted the presidential candidate’s team even before the cost was brought down to $175 million.
The two connected later about the lower amount, even though the defendant had enough to cover the bond. Trump is reportedly being charged a “modest fee” for the billionaire’s generosity. Thus far, however, Knight Specialty Insurance has not been approved by the court in this matter.
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