According to the Seattle Times, a judge denied a request on Wednesday to extradite Michael Mastro and his wife, Linda.
Mastro, a well-known Seattle developer and real-estate agent, declared bankruptcy in 2009 with assets in excess of $249 million and liabilities of more than $586 million.
The couple fled to France in 2011 shortly before they were indicted on charges of bankruptcy fraud.
The Seattle Times reports the pair ignored a judge’s ruling to hand over two diamond rings estimated at more than $1.4 million.
The Mastros were arrested in France in October of last year and held pending extradition.
The Seattle Times said the couple was set free on Wednesday. They had been on electronic monitoring and not allowed to leave their residence after 6:30pm.
According to the paper, the U.S. Attorney’s Office is considering appealing the court’s decision.