The intrigue surrounding Donald Trump’s $175 million appeals bond, particularly the financial backing provided by Don Hankey, was a focal point on MSNBC’s “The Weekend.” The show’s co-hosts Alicia Menendez, Michael Steele, and Symone Sanders-Townsend, along with MSNBC legal analyst Lisa Rubin, delved into the complexities and inconsistencies surrounding Hankey’s involvement in financing Trump’s bond for his financial fraud conviction appeal.
Don Hankey, the chairman of the LA-based Hankey Group and owner of Knight Specialty Insurance Company, has been in the spotlight for his role in securing a substantial bond for Trump. Rubin highlighted the ambiguity in Hankey’s explanations regarding the collateral accepted for the bond, told Newsweek.
In various interviews, Hankey’s accounts fluctuated, mentioning at one point that the collateral was entirely in cash, while at another time, he stated it included cash along with some investment-grade bonds, the specifics of which he seemed uncertain.
Rubin expressed skepticism about Hankey’s inconsistent recollections, especially given the enormity of the amount involved. She pointed out that anyone dealing with such a significant transaction, especially outside their usual line of business, would likely have a clear memory of the collateral details.
New York Attorney General Letitia James’s queries about the nature and adequacy of the collateral, in Rubin’s view, were well-founded and highlighted the need for transparency in such high-stakes financial arrangements. The discussion also explored the potential repercussions should Trump lose his appeal and be required to pay the nearly half-billion-dollar penalty imposed on him, Via Raw Story.
“If and when James wins on appeal to the full satisfaction of that $454 million — and by the way, that will grow by the day with post-judgment interest, if upheld on appeal it will be substantially larger than that by the time we reach that judgment months in the future— she will have to figure out where Donald Trump’s assets are, which of them she can most quickly seize or enforce upon,” she explained. “Many of them are already pledged to other lenders. For example, we know that Axos Bank in which Don Hankey is the largest individual shareholder, has $225 million of outstanding loans to Donald Trump on just two properties: the commercial portion of Trump Tower and the Doral Golf Course.”
Rubin underscored the challenges both Hankey and Trump could face in covering the substantial sum, especially since the collateral for the bond might not fully secure the amount. The situation raises questions about Trump’s strategy for addressing any financial shortfall and the implications for Hankey’s company.
Co-host Michael Steele and Symone Sanders-Townsend reacted to the unfolding scenario, with Steele acknowledging the gravity of the situation and Sanders-Townsend commenting on the potential troubles facing Hankey’s bank. The conversation shed light on the intricate legal and financial dynamics at play, emphasizing the uncertainty and risks involved in Trump’s appeal process and the significant figures backing his legal battles.