Ticks are 10 minutes, so if they're jailed for 6 ticks (Hour in jail), and the officer gets paid $1200, I assume that it should be a very long wait, so I don't see anything bad with that.
I want to admit that I've been doing something like this with Hoog on the last server. But even more lucrative.
I was an Official and he was a Bounty Hunter. This way, he could get wanted, he throws the baton to me, I jail him and get loads of money, I pardon him for a smaller amount then I just earned, I keep the money and Hoog is a free man without dems.
Even though I loved to do this, as it was an easy way of earning cash.. I think it may be too abusive and easy.
And now, when I've posted this... everyone will know the strategy so I suggest we should fix it somehow. :P