Before Raj Rajaratnam's public arrest, he was considered to be a successful hedge fund manager. What his clients did not know was he was involved in insider trading. He had stolen at least $20 million from those he was working for, although some estimates say it was closer to $60 million. Whatever the precise amount he took, his crimes eventually caught up with him. He was jailed and his bail was set at $100 million. He was fined an additional $150 million as a result of the court case against him.
Mr. Kening Ma was arrested after the authorities found out he was selling vehicles that did not meet or failed the state emissions control law. He and his wife were importing cars from overseas and them to customers with falsified records stating they had passed the emissions tests. He and his wife were also charged with money laundering, conspiracy, and grand theft. Mr. Ma's bail was set at $150 million.
Hearing stories about judges setting excessive bails which amounted to more than a million dollars can make standing in front of a judge and waiting to hear what your bail is going to be terrifying. It is normal to wonder what the judges use to set a bail amount.
Factors Judges Use To Determine Bail
By law, there are 12 different factors judges are supposed to take into account when determining bail. These ten factors include:
- The nature of the crime
- How much evidence there is against the defendant
- The defendant's ties to the community
- His/her financial resources
- His/her mental health
- His/her employment history and status
- The defendant's history regarding convictions and court hearings
- If the defendant is a danger to the public
- Whether or not the defendant has money because of the crime
- Whether or not the defendant is out on bail for a different crime
- If the defendant is on probation or parole
- The chances the defendant will commit another crime during the pretrial release
The judge will use these factors to determine whether or not the defendant has a right to bail and what amount is considered fair. According to the Eighth Amendment of the Constitution, judges are not allowed to use bail as a punishment for a crime. The purpose of bail is to provide a defendant with a way out of jail until his or her trial. The goal of bail is to guarantee the defendant will return to court for his or her intended hearing. Contact a company like STAT Bail Bonds LLC for more information.