The Supreme Court’s Criminal Division for Holders of Political Positions allowed the temporary, conditional release on B5m bail of red-shirt leader Arisman Pongruangrong on Friday.
Lawyer Kanpat Singthong said his client was to due be released from prison at 8pm.
He must not leave the country without the court’s prior approval.
Mr Arisman was remanded to Bangkok Remand Prison on Thursday after offering only 3 million baht to support a bail application.
His release was granted after relatives placed a bank account holding 5 million baht as a surety for his bail.
Mr Arisman, 54, has been charged with bribery over the Ua Athon housing project for the poor.
The suit, filed by public prosecutors, named the former Pheu Thai politician, three private firms and a company executive involved in the project as co-defendants in the suit.
They allegedly encouraged former Pheu Thai politician Watana Muangsook, then social development and human security minister in the Thaksin Shinawatra government, to abuse his power, and Mana Wongpiwat, who headed the National Housing Authority (NHA), which implemented the project, to accept bribes from companies contracted to build the houses.
The court accepted the suit for consideration on Aug 17.
The court set bail for Mr Arisman at 5 million baht, the same amount as Mr Watana. Mr Arisman had prepared only 3 million baht when applying for bail on Thursday, and was remanded to Bangkok Remand Prison.
His lawyer said his client's family was raising another 2 million baht, and he would reapply for bail today.
Public prosecutors filed a separate suit against Mr Watana and eight others in the bribery suit involving the housing project for the poor.
Mr Watana, 60, was accused of alleged malfeasance and accepting bribes from construction companies for the project.
Mr Mana, who headed the NHA project screening subcommittee from 2005 to 2006, and senior executives of the construction firm were indicted along with Mr Watana.
The court set Oct 5 for the first hearing of witnesses.
