The former head of the International Monetary Fund, Dominique Strauss-Kahn, has been granted bail pending his trial on charges of sexually assaulting and attempting to rape a maid in a New York hotel. The 62-year-old Strauss-Kahn could be released from Rikers Island jail as soon as Friday, but only under the condition that he put up one million Dollars bail amount and another 5 million Dollars bond secured by a family home. The conditions are intended to guarantee that Strauss-Kahn will appear in the court for trial. He could face a long prison sentence if convicted. Strauss-Kahn is a former French Finance Minister, and had been expected to declare his candidacy for the French Presidency soon. News accounts before his arrest said, he had a chance to oust current President Nicolas Sarkozy.