Bail was set for Arthur Bogarez in the amount of $2 million, a high bail for sure but not an unreasonable one given the circumstances. He was charged in a no-fault insurance scam, and found in Puerto Rico, where he was extradited to Brooklyn. There was good reason to believe he was a flight risk if released.
But the court didn’t just set high bail. It also required an examination of surety, a hearing to ascertain whether the monies used for bail came from legitimate sources or his crimes, and whether the surety, the person(s) posting bail were doing so because they had a real affiliation to Bogarez or were straw sureties, people pretending to put up the bail as a front.
His wife, Karine Gevorkyan, sought out a bail bond for her husband’s release, and was turned down by two bail bondsmen. To be clear, bail bondsmen do not turn down $2 million bonds lightly. These are hugely profitable, and only turn unprofitable for two reasons: the defendant skips town or they aren’t going to be able to get the bond through, going through a lot of work and ending up with bupkis. Not to be dismissive of bondsmen, but they really hate ending up empty handed. Bail bonds are definitely intended as a profit-making business. Continue reading
