NEW YORK (CBSNewYork) — Former IMF chief Dominique Strauss-Kahn has been granted $1 million bail after being accused of a sexual attack on a hotel maid in New York City.

After just one more night at Rikers Island, Strauss-Kahn will head to a posh Manhattan apartment being rented by his wife, Anne Sinclair.

READ MORE: Sources: Ex-Boyfriend Gunned Down Lizbeth Mass While She Was Working At Construction Site On City Island

The judge set bail at $1 million and approved an arrangement in which the 62-year-old French politician would be confined to the residence outfitted with video cameras.  He will also have to take out a $5 million insurance bond.

Prosecutors Said Strauss-Kahn Has A “Propensity For Compulsive Criminal Conduct.” 1010 WINS’ Carol D’Auria Reports.

A professional armed monitor or two, would be on scene around the clock. Strauss-Kahn must also wear an ankle bracelet and security would physically restrain him if he tried to leave, CBS 2’s Tony Aiello reported.

The decision to grant bail came after Strauss-Kahn’s lawyer presented a well laid out plan convincing the judge his client would not and could not flee New York.

William Taylor, Strauss-Kahn’s Defense Attorney, said his client’s only interest at the moment is to “clear his name.”

“The idea that he would attempt to live the rest of his life as an accused sex offender in France as a fugitive is ridiculous,” Taylor said.

WCBS 880’s Irene Cornell With More On The Terms Of The Bail

However, prosecutors fired back saying that Strauss-Kahn has shown a “propensity for impulsive criminal conduct.”

“He has the personal, the political and the financial means to flee and evade law enforcement,” said Assistant District Attorney, Artie McConnell.

Strauss-Kahn’s wife — heiress to a vast fortune — left court Thursday without comment, but the terms of the bail will set her back $200,000 a month. She has already fronted the $1 million for his release and rented an undisclosed luxury apartment for his comfort, CBS 2’s Derricke Dennis reported.

Earlier Thursday, Strauss-Kahn was indicted by a grand jury on nine charges – six felonies and three misdemeanors.  The specific charges have not been disclosed.

READ MORE: New Jersey Ranked 48th In List Of Best States In The U.S.

Strauss-Khan arrived for his hearing at Manhattan Criminal Court as scores of reporters from around the world lined up outside the courtroom and courthouse.

Anne Sinclair, wife of Dominique Strauss-Kahn, former manager of the International Monetary Fund, arrives with their daughter Camille Strauss-Kahn for his bail hearing at Manhattan Criminal Court, Thursday, May 19, 2011. (credit: Seth Wenig/AP)

His wife and daughter were also there, walking past the media without saying a word.

The head of the International Monetary Fund stepped down from his post overnight amid the sex assault scandal which could land him in prison for 25 years.

“I want 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,” Strauss-Khan said in his resignation.

“Mr. Strauss-Kahn is a loving husband and father, and a highly regarded international diplomat, lawyer, politician, economist, and professor, with no prior criminal record,” said defense attorney Shawn P. Naunton.

The 62-year-old is accused of sexually assaulting a housekeeper over the weekend while staying at the Sofitel Hotel in Midtown.

His accuser met with a grand jury Wednesday, who also heard testimony from her co-workers and from medical personnel who examined her at St. Luke’s Hospital.

“Detectives investigating the case found the complaint to be credible,” said NYPD Commissioner Ray Kelly. Investigators were now analyzing DNA samples reportedly cut from the hotel room carpet.

As they piece their case together, friends and supporters of the alleged victim were shooting down the notion that the sex may have been consensual.

“There was nothing about any aspect of this encounter between this woman and the defendant that was remotely consensual,” said Jeffrey Shapiro, the woman’s attorney.

If convicted, the charges could send Strauss-Kahn back to prison — this time not for a few days, but for 25 years.

Should the judge have allowed Strauss-Kahn to get out on bail, monitored with an ankle monitor? Sound off in our comments section.

MORE NEWS: New York Philharmonic Performs At The Shed As Part Of New York PopsUp Series

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)