The former Managing Director of the IMF, Dominique Strauss-Kahn, was on Thursday asked to post $1 million as bail money and $5 million as bond if he wished to leave Brooklyn's infamous Rikers Island prison, where he is being held on charges of assault on a hotel maid.

Even as Judge Michael Obus granted Mr. Strauss-Kahn's second bail bid, a grand jury indicted him on all charges brought against him by the 32-year-old Guinea-born immigrant widow, who alleges a naked Mr. Strauss-Kahn chased her down from his suite bathroom and then attempted to rape her.

Mr. Strauss-Kahn was expected to leave Rikers Island even as his wife, French television presenter Anne Sinclair, was said to be scrambling to secure a rented apartment in Manhattan where he could reside, under armed guard as per Mr. Justice Obus' ruling.

Under the restricted conditions of his bail, Mr. Strauss-Kahn is also required to pay the $200,000-a-month fee for the armed guards,CNN reported. Further Mr. Strauss-Kahn has been ordered to wear an electronic ankle monitor, said reports.

Mr. Strauss-Kahn's attorney William Taylor said: “Frankly, I was going to ask the court to release on a cash bail with no conditions, but it seems to me that under the circumstances, in light of the people's strong objection, at this point we have made the decision to accept these most onerous conditions because his need to be released from custody is so extreme and frankly his right to it is so great.”

However, Assistant Manhattan District Attorney John Mcconnell decried the decision. “The defendant in this case has shown a propensity for impulsive criminal conduct. There is no right to bail. There is no right to be released,” he said.