New York Supreme Court Justice Michael Obus granted resigned International Monetary Fund Managing Director Dominique Strauss-Kahn on Thursday a $1-million bail. However, the New York court required the former IMF chief facing sexual assault charges to a 24-hour house arrest with an armed guard and electronic monitoring.
The judge also ordered Strauss-Kahn to surrender all his travel documents and post a $5-million insurance bond, aside from the $1-millin cash bail. However, the accused would have to spend a fourth night at the Rikers Island jail on Thursday before his bail papers are approved.
Obus said Strauss-Kahn is still a flight risk and if he does manage to leave the U.S., it would be difficult to get him back. The embattled former IMF official will pay for the additional security requirements from his pocket, expected to cost up to $200,000 a month
The judge also said Strauss-Kahn must have one armed guard at all times at his own expense and have a 5 million dollar insurance bond.
Obus also set an arraignment hearing for June 6, when Strauss-Kahn will formally answer charges.
Prosecutors had opposed bail and told the judge during the hearing that Strauss-Kahn has "the personal, political and financial means to flee." They said no bail package would be enough to insure he would return to court.
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