Has the third party approached you in writing for verification?
Has the third party stated anything in writing?
Has the actual employer stated anything in writing?
Was the so called BOND really valid or VOID?
At times the so called so called BONDS are not worth even the paper on which it is written.
Bonded labor has been abolished long back.
If what you have stated is true then this employee had no options………………………………..and had to remain employed and earn his livelihood elsewhere.
Before you proceed further remember if pushed beyond a limit the employee may approach unions, lawyer/law firm, communities, open other fronts, retaliate, and skeletons may roll out of the cupboards………………………………..
The corporate have many raw nerves and hot buttons too!
YOU are with a business organization and business like approach and decision is more appropriate.
Why don’t you remain satisfied with other employees that are under your so called BOND and continue your business the way it is………………………………….and let this employee in his world.
Rest is up to you.