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Monday, April 15, 2024

‘King of Subprime Car Loans’ Don Hankey Backs Trump’s $175M Bond as Controversy Swirls

Here are a few stories on Axos, the bank that previously provided Donald Trump with a $100 million loan to refinance Trump Tower. The chairman and majority shareholder of Axos, Don Hankey, is a long-time Trump supporter and enabler. 

Billionaire whose firm backed Trump’s $175 million bond reveals how the deal came together

By , CNN

Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York came together quickly and that Trump posted all cash as collateral.

“It’s what we do. I’m happy to do it. We would have done it for anybody else,” Hankey said in a phone interview. “It was an easy transaction. It was put together very quickly.”

More here >

What Shady Banker Backed Trump’s Civil Fraud Bond? This One.

Meet Don Hankey, who is believed to be the largest shareholder in Axos Financial.

By Ellie Quinlan Houghtaling, New Republic

Stock in Donald J. Trump has—literally and figuratively—taken a nosedive.

On Monday night, it emerged that the only group willing to loan Trump a dime to cover the $175 million bond from his New York bank fraud trial is a company owned by the so-called “king of subprime car loans,” billionaire Don Hankey.

More here > 

Also read this story on the financial firm Axos, published two years ago:

The Totally Dodgy Backstory of the Bank that Just Refinanced Trump Tower

How Axos — a financial firm tied to GOP politics and high-profile lawsuits — became the Trumps’ lender of last resort.

By TIM DICKINSONANDY KROLL, Rolling Stone 

Donald Trump has succeeded in refinancing Trump Tower. That’s no small feat. The Trump Organization has mountains of debt and become a financial pariah. The company’s longtime accountant, Mazars, recently abandoned the Trumps — amid a New York state investigation into whether the company systematically manipulated the value of its assets. The accounting firm said it could no longer vouch for the accuracy of a decade’s worth of Trump Organization financial statements, insisting those documents “should no longer be relied upon.”

More here >

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