"The judge decided that the bail condition will remain as is," the spokesperson said on Friday.
The bail condition placed on Fruman includes that he is in home detention under electronic monitoring and pays a $1 million bond.
Fruman is an associate of President Donald Trump’s lawyer Rudy Giuliani, who allegedly helped Giuliani investigate corruption by former Vice President Joe Biden and his son Hunter Biden in Ukraine.
In October, US federal prosecutors unsealed an indictment against Fruman and three other businessman - Lev Parnas, David Correia and Andrey Kukushkin - for funnelling $1 million in donations from foreign nationals to unspecified political campaigns in the United States.
The four men are also accused of having donated money to a member of Congress and then pressing the lawmaker to remove or recall the then-US ambassador to Ukraine.
The US Attorney's Office spokesperson pointed out that Fruman’s defence team asked that the bail amount be reduced, but the government opposed the request.