The former head of the International Monetary Fund, Dominique Strauss-Kahn, has been released from a New York City jail, several days after his arrest on sexual assault charges. A New York judge ordered the release of Strauss-Kahn after he posted 1 million Dollars in bail and a 5 million Dollar insurance bond. State Supreme Court Justice assigned Strauss-Kahn to a temporary housing location in New York City. Armed guards will watch him, and he will be monitored electronically. Strauss-Kahn was accused of sexually assaulting a New York hotel maid last week and could face decades in prison if convicted. Earlier this week, he resigned from the top job at the IMF. Strauss-Kahan faces another court hearing on June 6, when a judge will describe the charges against the defendant and make sure he understands his legal rights. Strauss-Kahn is a former French finance minister, and had been expected to soon declare his candidacy for the French presidency.