Anna Gristina, accused 'Millionaire Madam,' could be released from jail today

(CBS/AP) NEW YORK - New York suburban mother Anna Gristina, the woman accused of running a high-end escort service in Manhattan, will be trying to make her recently reduced bond by using her former lawyer's apartment as collateral. However, the Manhattan district attorney and a judge would need to approve the plan.

Pictures: Manhattan "Madam" case

Former Gristina lawyer Peter Gleason owns the $2.5 million apartment proposed as collateral. Gristina is now represented by Connecticut-based attorney Norman Pattis. 

Prosecutors said Gristina, also known as the 'Millionaire Madam', peddled prostitutes for 15 years and bragged about law enforcement contacts. Gristina pleaded not guilty, saying she was just starting a dating business. Gristina was initially jailed on $2 million bond but an appeals court lowered it Tuesday to $250,000.

On Friday, prosecutors were given paperwork outlining Gristina's plan to make bail and if prosecutors and a judge OK it she could get out of jail this week with an ankle monitor.

Complete coverage of the "Manhattan Madam" case on Crimesider