The businessman who loaned former President Donald Trump $175 million for his bond in the New York civil fraud case said he charged him a low fee.
California billionaire Don Hankey, a longtime Trump supporter, stepped in to post Trump’s hefty bond in the case on Monday. However, in an interview with Reuters, he lamented that his low fee for the loan probably should have been higher, given the legal trouble he is facing.
“We thought it would be an easy procedure that wouldn’t involve other legal problems, and it’s not turning out that way. We probably didn’t charge enough,” Hankey said.
“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,” he added, clarifying that he did not regret posting the bond.
Attorney General Letitia James cast scrutiny on the bond, demanding that Hankey prove that he had enough assets to pay in the event that Trump’s appeal fails. The matter will have a hearing on April 22.
Hankey expressed surprise over the scrutiny.
“I’m surprised they’re coming down harder on our bond or looking for reasons to cause issues with our instrument,” he told Reuters.
Hankey has declined to disclose the fee he charged Trump. In a previous interview with the Washington Post, he described it as a “modest fee.”
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Despite his previous support for Trump, he said posting the bond is purely a business decision.
“I’m chairman of the board of several companies, and we just carry on our business and we try to stay away from political issues or taking sides,” Hankey said. He noted that although he has been a Trump supporter, “and I will support him in the future, but I wouldn’t consider myself a major supporter.”
