Strauss-Kahn is granted bail

A New York Supreme Court judge granted bail Thursday to former International Monetary Fund Chief Dominique Strauss-Kahn, who has been jailed on sexual abuse charges.

Judge Michael Obus granted the bail on the conditions that $1 million be posted in cash, that a bond for $5 million also be posted, that Strauss-Kahn surrender his travel documents and that he submit to home detention.

The announcement came shortly after the former IMF chief was indicted on seven criminal charges. They are: two counts of criminal sexual act, two counts of sexual abuse, and one count each of attempt to commit rape, unlawful imprisonment and forcible touching.

In a brief letter to the IMF executive board late Wednesday, Dominique Strauss-Kahn proclaimed his innocence, but resigned his IMF post.

He said he was stepping down to “protect this institution which I have served with honor and devotion, and especially — especially — I want to devote all my strength, all my time and all my energy to proving my innocence.”

“To all, I want to say that I deny with the greatest possible firmness all of the allegations that have been made against me,” he added.

The case has captured worldwide attention since Strauss-Kahn was pulled off an airplane last Saturday and charged with the sexual assault and attempted rape of a 32-year-old Guinean maid in his hotel suite.

Continue reading: http://money.cnn.com/2011/05/19/news/international/imf_strauss_kahn_bail.cnnw/index.htm?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28International+News%29