Donald Trump reportedly used a bail bondsman after being arrested at Fulton County Jail in Atlanta, Georgia, on Thursday, paying $20,000 of his bond set at $200,000 and taking out a loan for the rest of it. The fact that the former president resorted to such a measure has sparked questions on social media about the state of his finances.
Mind expand a bit on that, please, then?
Bail is essentially the court saying “give us this money, and when you show up for court you will get that money back.”
A bail bondsmen takes 10% as payment, giving the court the bail money. They will go so far as to hire bounty hunters to hunt you down, making sure you show up to court. When the court gives back the bail, they get to keep both the bail money (obviously) but also the 10% payment.
There’s no loan involved, the bail is more of a hold, and the bond is more of a payment. Trump isn’t paying less, he is literally paying a 10% bond to not have the full bail held. (Though it could be argued that the $180k could be used to make back the $20k but that’s a different discussion.) The bondsman has already received payment, there’s no concern of non payment by Trump.
That’s how it’s supposed to work, but in many counties the bondsman doesn’t actually front any cash to the court, and they don’t get charged if the suspect runs. They operate as a sort of slush fund for the owners, the officials, and the cops.
So these companies are often just another way to siphon money from people accused of a crime.
Super shady stuff.