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Businessman behind Trump's NY bond says he charged him a 'low fee'

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Don Hankey, the billionaire businessman whose company Knight Specialty Insurance provided the $175 million bond that Donald Trump posted in his New York civil fraud case, told Reuters that the fee his firm charged the former U.S. President was low.

Item 1 of 2 Republican presidential candidate and former U.S. President Donald Trump speaks during a press conference at one of his properties after attending a hearing in his criminal court case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. REUTERS/Shannon Stapleton/File PhotoRepublican presidential candidate and former U.S.

Lawyers say surety companies typically charge a fee of between 1% and 2% of the face value of the bond. "We have been getting a lot of emails, a lot of phone calls. Maybe that's part of the reason he had trouble with other insurance companies," Hankey said, adding that despite the issues, he did not regret providing the bond.the $175 million bond on April 1, as he appeals a $454 million fraud judgement against him for overstating his net worth and the value of his real estate to dupe banks and insurers, in a case brought by James.

 

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