
Balkany has been behind bars since 13 September last, following his conviction on charges of financial fraud and money-laundering.
The court took into account independent medical testimony pointing to an alarming deterioration in the health of the former mayor, a situation described as "incompatible with his continued detention".
He has been freed under minimal judicial control, without any bail obligations. He is to remain at his home in France and must report to the police twice each month.
Patrick Balkany is 71 years old and is reported to be suffering from digestive, heart and joint problems. He has also shown symptoms of severe depression.
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