Dealing in stolen property is fairly serious in that it is (quite ridiculously) a 2nd degree felony and therefore punishable by up to a maximum of 15 years in prison. That being said, his record is minimal and it is unlikely that he would seriously face prison, but it remains possible.
He does need a lawyer. If you can't afford a private attorney then he should ask for the public defender. The PD can file a motion requesting the judge to reduce the bond amount so he can be released.
Good luck!
