TAIPEI, Taiwan (CNN) -- Former Taiwanese President Chen Shui-bian, accused of embezzling about $18 million, has remained free on bail after a nearly eight-hour court hearing in which prosecutors argued that he should be jailed. Chen -- the island's first former president to ever face prosecution -- was freed last week after spending a month in jail while prosecutors prepared his indictment on several corruption charges, including embezzlement and accepting bribes.
Judges ordered Chen released after the indictment was formally presented, saying they did not believe he was a flight risk. No trial date has been set in court papers.
Chen, whose term ended in May, is accused of embezzling about $18 million. Prosecutors allege he also took bribes, laundered money and illegally removed classified documents from the president's office.
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