Van Nuys Bail Bonds Agent Caught Stealing

A Bail Bonds agent has three responsibilities when they write a bail bond. They are responsible to the defendant that they bailed out, the insurance company that is backing them, and to the court of which they bailed out the defendant. The Van Nuys Bail Bonds agent was irresponsible to all three, and is now heading to court.

Stephanie Johnson wrote over $350,000 worth of bail bonds and never paid the company’s insurance backer and alsovan nuys bail bondsdidn’t follow up with the defendants that she bailed out.

Each bail bonds agent has an inventory of bail bonds. Each bail bonds is called a power. It’s called “power” because it has the power of an attorney to bail someone out. Each power has a denomination associated with it. Most starting out bail bonds agents get very small powers because the insurance company finds it risky to provide large denomination inventory to rookie bail bonds agents.

You can visit some of the very old local bail bonds companies, like S&H Bail Bonds Van Nuys, and they have in their vaults, some $2million bail bonds powers. There are not very many bail bonds companies that are allowed to carry such large powers.

Johnson’s inventory was in question by the insurance company that backs her. Eleven bail bonds or powers were unaccounted for and other that were found having been posted have premiums that weren’t paid to the Insurance company. The unaccounted for bail bonds show a large risk for the insurance company. There are bonds that could possibly turn in and bail out defendants that are high flight risk. This in turn could cause losses for the insurance company.

The way the bail bonds typically work is, the bail bonds agent get’s a call from the defendant, their bail is $30K for example. The bail bonds agents would typically use a $30K power that is in their inventory. The cost of using a bail bonds agents is 10% of the total cost of the bail bonds. For this example it is $3,000. This is the bail bonds premium. Of this $3,000, a percentage goes to the insurance company that backs the bail bonds agent; this is the fee for the backing of the insurance company. It is this fee that Johnson is accused of not paying.

There is also something called a “buff”. A buff is like a savings account for a bail bonds company. A smart bail bonds company will always place part of their bail bonds premiums in this account for multiple reasons. Most of the time the money is placed there for if/when the defendant’s skip bail. Usually these costs are paid by the indemnitor who is responsible for the defendant.

Johnson failed to follow any of these normal bail bonds scenarios and is risk of heading to jail, the same place that she once bailed defendants out of.

Jerry is a proud contributor

Van Nuys Bail Bonds by Jerry’s
14419 Sylvan Street, CA 91401-2683
United States
(818) 787-2281

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