Megaupload boss seeks bail in NZ

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23 January 2012 Last updated at 03:35 GMT Megaupload founder Kim Dotcom was arrested in New Zealand on Friday along with three others. The founder of file-sharing website Megaupload has appeared in a New Zealand court seeking bail.

German national Kim Dotcom - also known as Kim Schmitz - was arrested with three others in Auckland on Friday in a raid requested by the US Federal Bureau of Investigation.

He has been accused of internet piracy and money laundering.

Prosecutors say he is a flight risk. The court later delayed a decision on bail.

"Given the breadth of issues covered in this bail application and the seriousness of the issues, I am going to reserve my decision," said Judge David McNaughton.

US authorities want to extradite Mr Dotcom. Federal prosecutors have accused Megaupload - one of the internet's largest file-sharing sites - of costing copyright holders more than $500m (£320m) in lost revenue.

Megaupload, on the other hand, said it was diligent in responding to complaints about pirated material.

Mr Dotcom holds German and Finnish passports, and is a resident of Hong Kong and New Zealand.

"Mr Dotcom emphatically denies any criminal misconduct or wrongdoing," Mr Dotcom's lawyer, Paul Davison, said.

Prosecutor Anne Toohey, however, said that Mr Dotcom was a significant flight risk, citing his multiple passports, financial resources and previous criminal convictions for hacking and insider trading.

Source BBC

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Megaupload Founder Kim Dotcom, By the Numbers

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Natalie Slade / NZ Herald / APThis aerial shot shows Kim Dotcom's house in Coatesville, northwest of Auckland, New Zealand on Friday, Jan. 20, 2012.

When news of the international raid on Megaupload broke Thursday in the U.S., Internet aficionados got a glimpse at the man behind of the largest file-sharing websites in the world. And it turns out the site’s founder, Kim Dotcom, was rich, large, and most certainly in charge. He currently sits in a New Zealand prison awaiting trial, while we attempt to dissect the man who (formerly) controlled the online media empire.

2: Number of citizenships held by Dotcom, Megaupload’s former CEO and current Chief Innovation Officer. He holds passports from Germany, where he was born Kim Schmitz, as well as Finland, but is a resident of New Zealand and Hong Kong.

3: Number of other Megaupload employees arrested along with Dotcom. Bram van der Kolk, Finn Batato and Mathias Ortmann were grabbed by New Zealand authorities Friday.

(READ: Megaupload’s Takedown: How Is Swizz Beatz Involved?)

Greg Bowker / New Zealand Herald / APFounder and current chief innovation officer of Megaupload.com Kim Dotcom (also known as Kim Schmitz appears in North Shore District Court in Auckland, New Zealand, Friday, Jan. 20, 2012.

6:45 a.m.: The time of the early-morning raid on Dotcom’s property by New Zealand police. As officers swarmed the property, Dotcom reportedly barricaded himself into a panic room built into his bedroom and armed himself with what appeared to be a sawed-off shotgun, police said.

6’ 7”, 300 lbs: Dotcom’s reported height and weight. The larger-than-life figure was indeed, rather large.

37: Age of Dotcom upon his arrest Friday, January 20, 2012. He turned 38 on January 21 and was reported to have been arrested during or just after his birthday party.

76: Number of New Zealand police officers involved in the raid.

(LIST: 25 Crimes of the Century)

2005: The year Dotcom founded Megaupload, headquartered in Hong Kong. Authorities say that while some of its file-sharing business was legitimate, the site was also a major clearinghouse for illegally pirated movies, TV shows and software

$12,000: The alleged cost per day of the Hong Kong luxury hotel room hosting Megaupload’s main office.

$4.9 million: The estimated worth of the 18 cars seized at Dotcom’s estate. The haul-away included 15 Mercedes-Benzes, a pink 1959 Cadillac, and a Rolls-Royce Phantom Drophead Coupe worth more than $400,000. His license plates told a tale of pompousness, reading KIMCOM, HACKER, STONED, GUILTY, MAFIA, GOD and POLICE.

$24 million: The price tag (in USD) on the 25,000-square-foot sprawling mansion Dotcom leases in Coatesville, New Zealand, 15 miles northwest of Auckland. Costing $30 million New Zealand Dollars, it’s one of the most expensive properties in the country.

$175 million: The total worth of assets owned by Dotcom and his Megaupload employees, according to the U.S. Department of Justice. The figure includes vehicles, artwork, bank accounts, and a smattering of giant screen televisions.

$500 million: Monetary damage to copyright holders caused by Megaupload, as estimated by the U.S. Department of Justice.

LIST: Top 10 People Caught on Facebook

Source TIME

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