It has been speculated that following his conviction in a fraud trial, Donald Trump may need to file for bankruptcy. However, Don Hankey, a wealthy individual with assets worth $23.4 billion, stepped in to offer assistance to the former president. Hankey’s company, the Hankey Group, is involved in credit companies, real estate, insurance and has a stake in Axos Bank.
Despite not being a prominent figure in politics, 80-year-old Don Hankey has donated to politicians from both the Republican and Democratic parties in the past. While he insists that he is not a fan of Trump, he views his loan as a good business opportunity. Hankey provided Trump with a loan of $175 million to post bail after court ordered him to pay $175 million following his fraud conviction.
In the civil case that led to Trump’s conviction, the judge found that Trump and others associated with his company committed commercial fraud by inflating the value of Trump properties to gain financial benefits. The court ordered Trump to pay $464 million with interest. Hankey expressed frustration with the court’s decision but cited common practices in the real estate industry as justification for his actions.
Don Hankey’s involvement in assisting Trump is not unprecedented as his company reportedly provided a loan of $225 million to the Trump Organization in 2022 when other lenders pulled out due to Trump’s role in Capitol riot. The bank’s president approved the loan based on financial considerations rather than political motivations. Overall, Hankey’s actions are viewed as business decisions rather than political statements.
It remains uncertain whether or not filing for bankruptcy will be necessary for Donald Trump following his conviction in a fraud trial. However, if it does become necessary, Don Hankey could play an important role as one of several potential lenders willing to provide financial assistance during this time of uncertainty for the former president and his businesses.
