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Sat. 11:43am: Former bail bond practice examined

August 31, 2013
Tribune Chronicle | TribToday.com

WARREN - Most of Trumbull County's judges permitted bail bond companies here to avoid millions of dollars in insurance fees by allowing the rare practice of using bonds backed by property. The courts also allowed the companies to inflate the value of their property.

Some people in the industry say the practice is contrary to state law, caused less income taxes to be paid and hurt bail bond agencies that did not own property. A spokesman for the Ohio Department of Insurance said the agency's Fraud and Enforcement Division is reviewing the matter. The Department of Insurance governs the bail bond industry in the state.

Read the complete story in Sunday's Tribune Chronicle and at www.tribtoday.com.

 
 
 

 

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