CT: Bondsman Says Bond Discounting is Public Safety Issue

The Connecticut bail system has been under a lot of scrutiny after a federal probe exposed corruption by officials, a police officer and three bondsmen.

In an editorial printed in the Hartford Courant, bondsman Patrick Moynihan said that discounting the state required minimum bail premiums is putting the public at risk. According to Moynihan, in Connecticut, the minimum bail premium is between 7 to 10 percent, depending upon the total amount of the bond. He said bondsmen are illegally discounting bonds to 2 or 3 percent. He opines, “With the going rate for bail bonds at a fraction of the legal limit, it is fair to assume that most if not all of these offenders were released on illegally discounted bail bond premiums. This practice only helps them return to the communities they terrorize. It creates a revolving door for violent and repeat offenders and makes bail bond companies incapable of fulfilling their financial obligations to the state.” He closed his editorial stating that commercial bail is superior to all other forms of release, but the system needs increased regulation.