Livedoor Co. founder Takafumi Horie, 33, who faces trial for accounting fraud and securities law violations, was freed Thursday night from the Tokyo Detention House, a day after paying a 300 million yen bail and after more than three months behind bars.

The information technology tycoon paid the 300 million yen by check as soon as bail was granted Wednesday, but prosecutors appealed the decision to let him out, and thus his freedom was put on hold.

The Tokyo District Court rejected the appeal Thursday and allowed him to walk free for the first time since his Jan. 23 arrest.