Megaupload’s Kim Dotcom may get relief or more trouble

Megaupload Logo (Photo: Wikipedia)

Kim Dotcom, the founder of MegaUpload who was arrested and his site was shut down by the authorities will learn on Wednesday whether he will remain free on bail in New Zealand or will the US authorities be successful in his extradition to ofcourse US. The US Justice Department and FBI allege Megaupload and related sites netted more than $175 million in criminal proceeds and cost copyright owners over $500 million by offering pirated copies of movies, TV shows and other content. Megaupload was founded in 2005 but shut down last month when its assets were frozen as part of the US probe. The German Internet Entrepreneur was released last week after a judge dismissed fears of Dotcom leaving the country to escape US allegations. Kim Dotcom is 38 and is accompanied everywhere with his heavily pregnant wife. After a day of legal argument, judge Timothy Brewer reserved a decision on whether to revoke the 38-year-old’s bail and will announce his ruling on Wednesday afternoon, local media reported. His mansion in Auckland was raided by New Zealand police along with US investigators on January 20.

Kim Dotcom, Founder of Megaupload (Photo: Geek.com)

Prosecutors successfully argued he was a serious flight risk, with the wealth and connections to slip out of the country if he wished. But he was given bail in a surprise move last Wednesday, when a court accepted that it was in his interests to fight the case and seek to retain his assets, rather than abandon his family for a life on the run. US authorities have said they will seek the maximum penalty of 20 years in jail if he is brought before a US court.

Source: AFP (no link)

VIA: NDTV Gadgets

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