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.

  • KairuByte@lemmy.dbzer0.com
    link
    fedilink
    English
    arrow-up
    34
    arrow-down
    1
    ·
    1 year ago

    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.

      • raptir@lemm.ee
        link
        fedilink
        English
        arrow-up
        18
        arrow-down
        2
        ·
        1 year ago

        Honest but unpopular answer? He might believe he can make more money holding on to the $180k. It’s the same reason why I would take a 2% car loan even if I had enough to buy the car outright. I can make more than 2% just keeping that money in a mutual fund.

        • takeda@kbin.social
          link
          fedilink
          arrow-up
          3
          ·
          edit-2
          1 year ago

          $200,000 for him (if he is real billionaire) should be like $20 for us, he would have to have really some killer investment strategy to make more than $20k during that time (which would be worth about $2) and all of that to ruin his image of a billionaire who can’t afford $200,000?

        • doggle@lemmy.dbzer0.com
          link
          fedilink
          arrow-up
          2
          ·
          1 year ago

          That’s possibly what he’s thinking, but making back 20k on 180k (11%) before his trial ends seems like a bit of a tall order. Especially for someone who’s business accumen is a bit suspect. Not necessarily impossible, depending on how long the trial takes.

          Of course he may just feel that keeping the capital fluid is a more prudent decision right now. Or he’s broke. No way to be sure ¯_(ツ)_/¯

      • TheDude@lemmy.ml
        link
        fedilink
        arrow-up
        11
        ·
        1 year ago

        Because he will use other people’s money rather than his own at every chance he can get.

            • takeda@kbin.social
              link
              fedilink
              arrow-up
              1
              ·
              1 year ago

              If he feels that he really goes to jail I don’t think he will care about 2024 anymore. And he doesn’t have to leave in his own plane. He still has people who are willing to help him.

              In any case I’m sure the bondsman is also his fan and probably wouldn’t even mind losing the money.

    • TechnoBabble@lemm.ee
      link
      fedilink
      English
      arrow-up
      15
      ·
      1 year ago

      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.