(ConservativeFreePress.com) – Don Hankey, a billionaire prominently known in the financial industry as the “king of subprime car loans,” has come into the spotlight for aiding Donald Trump in meeting the $175 million bond requirement for his case in New York. Hankey, in a conversation with DailyMail.com, detailed his involvement in the process, revealing that he proactively reached out to Trump’s team upon learning about their initial attempts to gather a much larger bond of $460 million.
The narrative unfolded when the New York appeals court revised the bond amount downward and subsequently granted Trump an additional ten days to secure it. This adjustment came after Trump’s legal team argued the impracticality of obtaining underwriting for the original figure. Hankey’s engagement began with the intent to assist in assembling the larger bond, but the focus shifted to the reduced amount of $175 million after the court’s intervention.
Hankey explained the ease of finalizing the bond when Trump opted to utilize cash entirely, contrasting with the initial proposition of a mixed collateral comprising bonds and cash. The transition to an all-cash collateral simplified the process, with Hankey affirming the completion of the bond through a screenshot showing the cash deposit.
Expressing no reservations about lending to Trump, Hankey indicated a willingness to consider real estate as collateral, citing Trump’s reliable credit status and the low risk associated with cash collateral held in trust. His support for Trump, coupled with his professional acumen, facilitated this financial maneuver.
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