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Megaupload's Kim Dotcom granted bail
Albuquerque News.Net
Wednesday 22nd February, 2012
AUCKLAND - Founder of file sharing website Megaupload.com Kim Dotcom alias Kim Schmitz, who has been jailed here since January 20 at the request of the US, has been granted bail by a New Zealand court, which has scheduled the extradition hearing in August.
The US has 45 days from the date of arrest to file a formal extradition request. Dotcom was charged with copyright violations, wire-frauds, racketeering and money laundering in a US court in Alexandria, Virginia, on February 17.
Four others who were arrested along with Dotcom in Auckland have been granted bail earlier.
Dotcom, 38, has been indicted in the US in the biggest copyright infringement conspiracy in the country's history.
He faces charges for "mega conspiracy", with the US prosecutors accusing his file-sharing website of generating more than $175 million in criminal proceeds from the exchange of pirated film, music, book and software files.
Denying US charges, Dotcom's lawyers claim the company simply offered online storage.
Granting the bail plea of Dotcom, North Shore District Court Judge Nevin Dawson did not agree with the charge that he posed a significant flight risk because there did not seem to be any evidence to support the allegation that he had hidden assets or money to help him flee the country.
"Since all known assets have been seized and are unavailable for Mr. Dotcom's use or disposal," the judge mentioned.
On the basis of an affidavit received from Bonnie Lam, the Hong Kong chief financial officer of Megaupload, Dawson accepted Dotcom's claim that following the seizure of all his assets he has no other resources available.
"I'm relieved to go home and see my three little kids and my pregnant wife," Schmitz said after the ruling.
Under the terms of the bail, Dotcom has been effectively put under house arrest, banned him from using the Internet, would have to wear an electronic tag, and live in a small house, not his heavily fortified lavish mansion from where he was arrested under a virtual raid.
Dotcom, who has New Zealand residency besides holding citizenship of both Germany and Finland, has also been forbidden from using his private helicopter.
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