The Appeals Court’s Council on Tuesday decided the release under conditions and a bail of 500,000 euros of businessman Lavrentis Lavrentiadis, jailed over bad loans by Proton Bank while he was in charge of the bank.

The Council accepted the appeal of the businessman who completed 19 months in remand and over the last period has been held in the psychiatric prison of Korydallos prison.

Lavrentiadis may be released even on Tuesday under conditions such as banning of travel abroad and obligatory signing in at the local police station on a regular basis.

Lavrentiadis is accused of embezzling 701 million euros from Proton Bank, in connection with a series of risky loans approved when he was at its helm, most of them to firms in which he had an interest.