Francis was relocated to the Nevada jail last month after a federal judge ruled that his $20 million tax-fraud charges took precedence over those he had been held for at the time in Florida. In April, Francis turned himself in to Panama City, Fla., officials for contempt of court, ready to serve 35 days.
U.S. Magistrate Robert A. McQuaid issued Francis' bail order Monday, and his lawyer Aaron Dyer told TMZ.com that he was very pleased with the decision, and that the court made a thorough examination of the facts in order to make it.
"The court ruled that the conditions of Mr. Francis' bail were sufficient to compel Mr. Francis to appear in court and to comply with court orders," Dyer said. "Now this allows us to address the issue of bail in his Florida case."
U.S. Attorney spokeswoman Natalie Collins told E! Online that the Reno federal court previously had considered Francis a flight risk and hadn't allowed him to post bail until Francis' lawyers had worked out the terms of his release with Florida authorities.