"Why did Trump need a bail bondsman if he's a billionaire?" some asked on social media.

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.

  • NumbersCanBeFun@kbin.social
    26·
    1 year ago

    I see a lot of people trying to write this off like it’s some sort of business strategy and he is just playing with debt like always.

    This isn’t a business. This is a criminal proceeding and there are very different rules about bail bonds vs other loans.

    I’m not saying to believe he is broke but I think there is more going on here than what others are trying to write off by saying “this is par for the course”.

    Personally? I think he had all his resources tied up and isn’t very liquid right now. So he may have the money but if it’s tied up in a property you can’t just reclaim that instantly. It’s the same problem Guliani is having right now. It’s not easy or fast to sell a 6 million dollar house 😅

    • garretble@lemmy.worldEnglish
      191·
      1 year ago

      Speaking of “tied up in property”: he sold Mar a Lago to DJT Jr. the other day.

    • relative_iterator@sh.itjust.worksEnglish
      6·
      1 year ago

      Definitely makes sense to do this via a loan so your cash isn’t tied up. I would like to know if there’s any reason to use bail bondsman over some other method.

      • IWantToFuckSpez@kbin.social
        6·
        1 year ago

        Less paper work since the bondsman handles it. it’s also cheaper but you don’t get the money back when the court case is over. Which you do when you pay bail directly. This is how bail bondsman make money. You pay them 10%-20% they pay off bail and then they get that bail money back or they simply give the judge a guarantee that you show up. They will also hound your ass if you fail to show in court and send a bounty hunter to find you. Since if the defendant fails to show up the bondsman has to pay the full amount.

    • takeda@kbin.social
      1·
      1 year ago

      Personally? I think he had all his resources tied up and isn’t very liquid right now.

      It’s currently hard to sell Rubles.