The Cork-born financier Finbarr Ross was released from Magilligan Prison, Co Derry, yesterday following the granting of bail by the Court of Appeal in Belfast on Wednesday.

Similar conditions to those that applied to his bail while awaiting trial were applied with the addition of a requirement that he surrender his US and Irish passports. He is to reside in Macroom, Co Cork, with relatives.

Ross was found guilty in September of three charges that he sought and obtained funds for International Investments Limited at a meeting in Belfast on December 15th, 1983, when he knew the company was insolvent. He was sentenced to two-and-a-half years in prison.