This happens in the states (sometimes). There was a famous case of a surgeon in Florida who killed someone while driving. The victim's family successfully argued against jail time so the doctor could continue practicing and have the money to pay a settlement.
Putting him in jail won't fix anything; paying restitution is a better outcome. The key is that you shouldn't be able to avoid criminal penalties if you repeat the crime. The "Get out of jail for a fee" card should only be available once.