(PatriotNewsDaily.com) – Knight Specialty Insurance chairman Don Hankey, the billionaire who provided former President Donald Trump with the $175 million bond needed for the New York civil fraud case, quipped that he might not have charged Trump enough.
Hankey told Reuters that he had not considered the bond to be a big risk, which is why he had opted not to charge Trump a high fee for the financial service. He also noted that they believed this would be an easy procedure that would not include any further legal problems, which is why they most likely had not charged enough.
The billionaire has stated that he has faced increasing scrutiny by New York Attorney General Letitia James, as well as other officials. He added that this was part of why Trump had trouble getting the bond from other insurance companies.
Previously, Hankey had supported Trump in 2016 and had backed his re-election attempt. He continued by noting that he was surprised that they were coming down harder on the bond and that they searching for reasons to cause issues.
Originally Trump’s bond had been set at $454 million; however, no firm was willing to take the risk.
Hankey who is believed to have a net worth of more than $7 billion had ended up approaching the Trump campaign to provide him with financial services before the bond was reduced to $175 million.
Trump had provided collateral in exchange for the bond.
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