A $1 Million dollar bail bond is generally only seen in the most serious of criminal charges, but million dollar crimes are seen more frequently than you would think. So what does having a $1,000,000 bail actually mean?
$1 Million Dollar Crimes
When it comes to a $1 million dollar bail amount the most common crime that comes to mind is murder. While 1st and 2nd-degree murder charges may have no bail under certain circumstances, each case is reviewed and the factors of the defendant and the charges are taken into account at arraignment. The judge and district attorney consider criminal history, flight risk, the track record of showing up to court appearance, and potential for further danger to the community when bail is set.
Crimes other than murder can result in having a $1,000,000 bail set. Violent crimes against law enforcement and children, large scale drug or weapons distribution, and even white-collar and financial crimes can result in having a high bail set. Potential for flight risk can trump the severity of the crime and people of high net-worth can see a $1 million dollar bail amount set.
How Much Does A $1 Million Dollar Bail Bond Cost?
Depending on the state and county, a bail bond premium costs between 10-15%. A bail bond calculator can help you determine the exact amount. That means at a $1 million dollar bail bond would cost $100,000 to $150,000, which would be paid to a bail bondsman. That $100,000-$150,000 is non-refundable, even if you’re found innocent or the case is dismissed. Without using a bail bondsman you would need to come up with a million dollars in cash to secure release before the court date.
Having a higher bail like $1,000,000 means that not only do you have to come up with the $100,000-$150,000 fee, you’ll also need collateral that adds up to the full million dollar amount. This can be personal collateral like property, investment accounts, cars, and even jewelry. If you’re unable to come up with the full amount the bail bondsman might allow someone to co-sign on the bond, making them responsible for you showing up to the court date as well.
What Does Having a $1,000,000 Bail Amount Mean?
Unlike having a misdemeanor charge where you can have a low bail amount set or even be released on your own recognizance, a serious crime with a higher bail means the judge has determined the defendant to be an extreme flight risk, a high a potential for violence, or a risk to the safety of the public.
An amount of bail this high usually means that the person is not considered to be an immediate threat, but is a high flight risk due to the potential sentence they’re facing or a having a high net worth. They may not even have a previous criminal record. A $1,000,000 bail bond is designed to limit the potential flight risk by removing the financial means to flee and provide an incentive to show up for all court dates.