Waluke, who was found guilty of fraud and perjury by the Anti-Corruption Court and sentenced to prison, was given Sh10 million bail on Friday.
The MP was also given the option of posting a Sh20 million bond with surety while his appeal against the 67-year prison term was heard and decided.
Waluke and Grace Wakhungu were sentenced to 67 years in jail on October 6 for cheating the National Cereals and Produce Board (NCPB) of Sh297 million.
The Anti-Corruption Court had found Waluke and Ms. Wakhungu guilty of fraud and perjury in 2020.
They filed an appeal against the verdict and punishment with the High Court, but it was rejected.
This came out after a number of political leaders advised the current administration and the courts of law to revise his jail term of 67 years after he was found guilty of charges of inappropriation of funds. He is a free man again ahead of hearing of his appeal against the ruling.
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