[
Rachel Maddow asked a question which perhaps the court will also have to answer. What did Trump do to deserve such a generous bond?
Maddow said:
Apparently, he will take real estate as collateral. This was not a problem for him. Trump's lawyers apparently never told the court that this person had offered to post the bond. In fact, he told the court that no one would post this bond. The appeals court apparently believed that no one would post the bond, then reduced the bond, reducing it to $175 million, which was then covered by this person, who had already raised a much larger amount. The offer was made, even though the court was told that Trump's lawyers would not do so. What did Trump have to do to receive such generosity from a man who is not so generous after all? A man who will eventually threaten to jail you illegally if you don't make car payments. According to the Consumer Financial Protection Bureau, whose bank charged a Harlem soul food restaurant 268% interest on their business loan. A man who demanded daily payments from a small business in Massachusetts that he was charging more than 90% interest to make it right doesn't seem like the kind of guy involved in too many ultra-generous business deals. What is he charging Trump for this $175 million favor?
Billionaire businessman Don Hankey, whose company provided the $175 million bond that Trump posted in his New York civil fraud case, told Reuters that his company had approached the former US president for the bond. The fee charged was very less. Hankey declined to disclose the fee. Lawyers say bail companies typically charge between one and 2% of the face value of the bond, which in this case would mean his fee would have been between $1.75 and $3 million. Citation. Hankey says he now feels his company did not charge Trump enough.
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The large query that Trump and Hankey must reply in court docket is what did Trump promise Hankey in return for this sweetheart deal?
There have been some deceptive stories that the bond has been lifted and Letitia James might start seizing Trump's belongings, however this isn’t correct. The listening to has not but taken place, however when the listening to takes place, if Hankey can not show that he’s the authentic and authorized supply of the bonds, it could be dismissed, and Trump must search the bonds once more.
There are a variety of questionable items in bond fraud.
All of them deserve scrutiny.
This a part of the story is just not over.
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Jason is the managing editor. He’s additionally a member of the White Home Press Pool and Congressional Correspondent for PoliticsUSA. Jason has a bachelor's diploma in political science. His graduate work targeted on public coverage with a specialization in social reform actions.
Awards and Enterprise Memberships
Member of the Society of Skilled Journalists and the American Political Science Affiliation