Why did wealthy Trump need a Georgia bail bondsman for $200K
The fact that Donald Trump, a self-described billionaire, sought help from a bail bondsman led to questions as he was arrested on Thursday, Salon noticed.
Trump foe George Conway posted on social media that he found the bail bond visit "really puzzling."
"If you have the cash, it seems a waste of money to use a bail bondsman," Conway said. "The only reason I could think of is that he didn't want to use his own money, and instead chose to have his PAC take the hit for the bonding fee. Don't know if that makes sense, but who knows?"
Legal analyst Bradley Moss asked the same questions, "Why does a billionaire need the help of a bonding company? A man who owns resorts and a private plane can't afford a $200,000 bond?"
Palm Beach State Attorney Dave Aaronberg explained that to get the $200,000 bond, Trump had to put down $30,000 of non-refundable cash to the company.
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MSNBC reported on the issue and interviewed bondsman Charles Shaw the evening Trump surrendered to the Fulton County Court.
Shaw called it a "very serious experience" and seemed concerned about "getting it right."
"I just think it was just something that was quite extraordinary. I think this is probably the most secured bond I've ever executed in my entire career," said Shaw, who was on hand when Trump was taken to the jail.
Any person requiring bail has to put up a kind of insurance to guarantee that they don't flee and if they do they won't get the money back. The bail bond company doesn't have to put up all $200,000, it holds an insurance policy on Trump. But it still requires $30,000 that he will never get back. Putting up the $200,0000 himself means that if he doesn't flee he'd get the money back. So, why didn't Trump go that route?
ALSO IN THE NEWS: Legal analysts question if Trump 'selling' Mar-a-Lago to Don Jr. was 'fraudulent
One reason is that Trump might not have that kind of financial liquidity. He might be a self-described billionaire, which financial analysts have suggested is false, but his net worth is based on his properties and assets. Trump could also put up his property that covers the bail amount.
Oddly, weeks ago, Trump seemed to transfer the ownership of Mar-a-Lago to his eldest son, Donald Trump Jr. That has led to further questions about why and whether the transaction was legal.
The other reason Conway suggested, his super PAC could write the check for his bonding fee so he doesn't pay anything out of pocket and can rely on donor money.
See the clip in the video below or at the link here.
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