Bailee

Is a bailee a less despicable version of a bagman? Both are people holding the purloined goods for another...

Yeah, but a bailee is legit business person. A bailee is someone who possesses but does not own the property of another. The possession of the property is under an inferred or written contract call a bailment.

In simple terms, a bailee takes temporary possession of personal property for a specific reason, such as a dry cleaner (possesses your clothes to clean them), parking valet (holds/parks your car while you eat), jeweler (holds your watch long enough to repair it), computer repairman (holds your computer long enough to fix it), auto repairman (possesses your car until it is fixed), etc.