Here at Dennis Blackwell bail bonds, we provide bail bonds for typical cases in Colorado Springs. The types of bails bonds we provide are some of the most common types, and are usually for lower level offenses, like theft. This is because we provide members of the Colorado Springs and Pueblo community, and there are very few extreme crimes committed. Here are some unusual historical instances when bail has been set at an exorbitant amount.
The most expensive bail of all time was handed down to Micheal Milken, clocking in at 250 million dollars. He was convicted of inside trading in the stock market in 1989, resulting in the largest criminal investigation on Wall Street in history. He ended up making around 1.8 billion dollars from his illegal inside trading. After some quick math, this means that the 250-million-dollar bail was only 13.8% of his earned 1.8 billion dollars. Today, that 250 million dollars equals around 489 million dollars.
The third most expensive bail was handed down to Raj Rajaratnam, coming in at 100 million dollars. Rajaratnam was charged with insider trading, like Milken. This case is still pending, so the exact amount of money that he made from his illegal trading has not yet been disclosed.
With all of these huge bail amounts in mind, it is good to note that though they are high, they are not violating the eighth amendment of the United States Constitution. As a refresher, the eighth amendment deals with limiting excessive bail. To any ordinary person these amounts are excessive but to these individuals, it is not.
If you or a loved one needs Colorado Springs bail bonds, call Dennis Blackwell bail bonds today! We offer 24 hour bail bonds for your convenience! Servicing bail bonds Pueblo CO and Colorado Springs, we are here to help!
Information for this article was procured from Gayathri Vaidyanathan’s article on “10 Huge Bails”.