A New York City judge has denied bail to the head of the International Monetary Fund Monday, saying he must remain behind bars until his court hearing.
Dominique Strauss-Kahn has was arrested Saturday on charges that he sexually assaulted a housekeeper at a hotel in Manhattan, New York.
Prosecutors requested the IMF chief be held without bail on fears he presented a flight risk.
"He has almost no incentive to stay in this country," Assistant District Attorney Artie McConnell told Judge Melissa Jackson at an arraignment hearing in lower Manhattan Monday. "He has an extensive network of contacts throughout the world."
Police retrieved Strauss-Kahn from an airplane at New York's John F. Kennedy airport set to take off for France, Saturday.
Authorities later forced the IMF chief to undergo a forensic medical exam after his accuser picked him out of a line-up.
According to the maid, she was cleaning what she believed to be an empty hotel suite around 1 p.m. Saturday when Strauss-Kahn emerged nude from the bathroom.
She said he chased her down a hallway, pulled her into a bedroom, and began to sexually assault her.
Meanwhile, Strauss-Kahn, considered a possible contender for the French presidency, has denied the allegations "and intends to vigorously defend the charges," his attorney Ben Brafman said.
Eswar Shanker Prasad, an international economics professor at Cornell University, told the Washington Post that regardless of the outcome of the case, Strauss-Kahn's career was effectively over.
"This sordid episode - no matter how it ultimately plays out - will spell the end of Strauss-Kahn as an effective leader of the IMF even if he retains his position, which is highly unlikely," Prasad said.
"With Strauss-Kahn's departure, the IMF can no longer be counted on to watch Europe's back as it becomes increasingly clear that the EU-IMF program in Greece is not working," he said.