8:32 AM PT — According to court docs obtained by TMZ Sports … Telfair was released on $500,000 bail.
As part of his agreement with the court, Telfair must surrender his passports and remain in New York City.
Telfair also agreed to be confined to house arrest from 7 PM to 7 AM daily while also wearing an electronic monitoring ankle bracelet.
Sebastian Telfair is FREEEEEEEEEEEE!!!!
… for now.
The ex-NBA star and former H.S. prodigy is out of prison just days after he was sentenced to 3.5 years in his gun case … but there’s a chance Telfair could end up back behind bars.