this post was submitted on 25 Aug 2023
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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.

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[–] qyron@sopuli.xyz 26 points 1 year ago (11 children)

Mind expand a bit on that, please, then?

[–] KairuByte@lemmy.dbzer0.com 35 points 1 year ago (10 children)

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.

[–] Tikiporch@lemmy.world 16 points 1 year ago (8 children)

Cool. So why would a billionaire use a bail bondsman service?

[–] TheDude@lemmy.ml 11 points 1 year ago (1 children)

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

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