GERARD “THE MONK” Hutch has been released from prison after paying €100,000 bail.

The decision was taken by a court in the Lanzarote capital Arrecife today following an application by lawyers for Hutch.

Hutch was among a number of people arrested by Spanish police investigating alleged organised crime activity – he was later charged. 

The Canary Islands High Court press office confirmed in a statement at lunchtime today that the Dublin man had been released from custody. 

“The Irish citizen remanded in custody in Lanzarote on 25 October as the alleged leader of an international criminal gang has been provisionally released on bail of 100,000 euros this morning, 4 November, after Court of Instruction Number Two in Arrecife upheld his appeal against the imprisonment order.

“The investigating magistrate took this decision after receiving a report from the Public Prosecutor’s Office which was favourable to the appeal.

“The Irish citizen is being investigated as the alleged perpetrator of a money laundering offence committed in the context of a criminal organisation,” the statement said. 

Hutch, 61, was one of two of the nine suspects held in Lanzarote during dawn raids on 23 October who were remanded in custody after a behind-closed-doors court hearing in Arrecife two days later.

He and an alleged British associate were sent to the island’s Tahiche Prison. His Costa del Sol flat was also searched by police. 

A court-imposed security order is understood to be still in place. Police in Lanzarote have yet to make any comment.