A prominent businessman will be released from custody as he awaits an appeal

The man was sentenced to two years and four months in prison in May for indecent assault and corruption convictions.

The Court of Appeal has granted the man bail today ... pending a future challenge to his five convictions and more than two-year prison term.

The reasons for his bail cannot be published because of suppression orders.

The influential figure continues to deny the allegations against him.

An appeal date is yet to be scheduled ... with the former rich-lister eligible for parole in March.