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| Appeal Holds Up Forfeiture of $700,000 Bond http://fugitiverecovery.com/forum/viewtopic.php?f=26&t=1892 |
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| Author: | AWOBB [ Thu 20 Jul 2006 15:45 ] |
| Post subject: | Appeal Holds Up Forfeiture of $700,000 Bond |
Appeal holds up forfeiture of $700,000 bond; Poland still being sought by firm Clark County officials will have to wait to see if the county will receive any of a $700,000 bond posted for Wayne Poland, 62. Poland failed to appear - almost two years ago - at his trial on 40 counts of rape and 20 counts of possession of child pornography. First Arkansas Bail Bonds and their local agent, Thom Francis, issued Poland's two bonds, amounting to $700,000. Poland's co-defendant, Jacquelyne Velcoff, 48, was charged with 20 counts of rape. She was found guilty in February 2005 on all counts and sentenced to serve 14 years on each count. She is now in prison in the Arkansas Department of Correction with a scheduled release date of 2014. When Poland failed to show for his trial on Nov. 15, 2004, Circuit Judge John Thomas gave First Arkansas several months to find Poland before issuing an Order of Forfeiture on May 19, 2005. In that order, Thomas ordered First Arkansas Bail Bonds Inc. to pay Clark County $692,200, the amount of the bond minus expenses the company had accrued in searching for Poland. Francis said his company is still actively seeking Poland's return. Calls to the company's headquarters in Mountain Home have not been returned, and they have not responded to messages left by phone. Although the order to pay the funds was issued more than a year ago and have not been paid, First Arkansas Bail Bonds is still issuing bonds in Clark County. They can still legally issue bonds, according to Tommy Reed, executive director of the Arkansas Professional Bail Bonding Co. and Licensing Board. "It's a process," Reed said. "It's got to run its course." The case is stalled with the Arkansas Court of Appeals. First Arkansas Bail Bonds has appealed the order of forfeiture and the appeals court has not yet heard the case. According to the court's docket, the case is scheduled to be heard next month when the court reconvenes from its summer break. Prosecuting attorney Henry Morgan said once the court issues their decision, the matter can move forward. "Until they hear it, we're stalled," Morgan said. Once the court rules on the matter, First Arkansas can seek funding from the sources Poland used as collateral, Reed said. The owners of First Arkansas Bail Bonds have told Reed that the judgment will be paid, he said, even if the court rules in their favor. "I've been assured that First Arkansas will satisfy that judgment," he said. Until the case is heard by the appeals court, First Arkansas is still "solvent and in good standing" with the Professional Bail Bond Licensing Board, Reed said. That means the company can continue to issue bail bonds as they have in the past, he said. In order to be licensed, a bonding company has to put up a security deposit. First Arkansas has a $100,000 on deposit, Reed said. If necessary, the licensing board can use that deposit for the satisfaction of bonds. |
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| Author: | kickingit101 [ Thu 20 Jul 2006 18:16 ] |
| Post subject: | |
So you are a bail bondsman and you are looking at having to forfeit a $700,000 bond and you only spend out of your own pocket $7,800 looking for the guy in two years? HMMM does not sound like they are very worried about having to pay out the bond to me. When I did bail bonds I bonded a guy on a $5,000 bond and he ran. I spent $3,000 to get him. Of course he was calling and cussing me and threatening to kill my children and myself so it became personal. Imagine his surprise when we along with the Columbia Police Department busted down the door at the crack house where he was staying. Oh and he was hiding in a closet and refused to come out because and I quote " She said she was going to kick my ass when she caught up to me" which yes I did threaten to do after he threatened my family, but I settled for letting him know he would now be someone else's you know what when he got to prison, I would make sure of it. |
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| Author: | HoundDog [ Fri 21 Jul 2006 07:49 ] |
| Post subject: | |
I offered to help and they would not even return phone calls. They never intended on looking or even trying to catch this guy, they figured that they could just beat the judgement in court. They will be out of business if the appeals court rules against them. |
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| Author: | AWOBB [ Sat 22 Jul 2006 08:44 ] |
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I know that if I bonded this person out an they ran on me. I sure in the hell would of went after him. I wouldn't of care how much it cost me to get them back in jail or court. I still have lots to learn about Bail Bonds part of the business, cause that I'm just starting out in. But the recovery part, I have been doing for awhile. |
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| Author: | Kathy [ Sat 22 Jul 2006 08:50 ] |
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Steve, use your experiences from BE in writing bonds. It will help you know what information to have and also in being able to read people. |
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| Author: | AWOBB [ Sat 22 Jul 2006 08:54 ] |
| Post subject: | |
Thanks for the information, Kathy! |
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| Author: | Mdbtyhtr [ Sat 22 Jul 2006 09:45 ] |
| Post subject: | |
Steve, You will do well in bonding. Just remember, that potential clients learn what the answers should be every time they talk to a bondsman. When all of the answers are just too perfect, something is wrong. Also, when you are hurting for money, you have to be on your sharpest point, that is when you will be renting money, by writing bonds you would not if you were flush! Best regards, health, wealth and happiness, Scott |
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| Author: | tsuggs [ Sat 22 Jul 2006 16:34 ] |
| Post subject: | |
On any large bond and we consider anything over $20K large, we get solid indemnitors or COLLATERAL. In this case we would not have written that bond without real property with proven equity equal to the amount of the bond(s). A deed of trust would have been recorded BEFORE the bond was written. In California we can start foreclosure proceeding as soon as the def fta's and we get a forfeiture notice from the court. We can't collect until we have to pay the summary judgment ordered by the court. But, the co signers are on notice that in 180 days if the def is not back in custody, they will lose their property. Likewise, on that large of a bond, we would have hired the best recovery agent we could and the fee to them would have been the $70K we got as premium on the bond. I don't think we would have had a problem getting a good recovery agent to take the case and work it hard. |
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| Author: | L.A.W. [ Sat 22 Jul 2006 18:30 ] |
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Tony... for 70K I would have brought in the bad guy, his neighbors and even the paper boy. Just kidding but you get the idea. |
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| Author: | bloodhound8652 [ Sat 22 Jul 2006 19:12 ] |
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HELL WHERE DO I SIGN UP AT I WILL WASH YOUR CAR TAKE YOUR WIFE OUT WHEN YOU DONT WANT TO SH__ WHAT ELS DO YOU NEED DONE ! |
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