A man accused of stealing more than 360 thousand dollars from an 89-year-old Canberra woman has been freed on bail.

South Korean visitor Byung Uk Cho has been released from jail despite concerns from police that he might try to flee the country.

The 27-year-old has pleaded not guilty to 27 charges of fraud.

He’s been granted bail on the conditions he report daily to police, remain in the ACT and not apply for a new passport.