Andre Yoskowitz
21 Feb 2012 20:29
Kim Dotcom, the founder of the now defunct cyberlocker Megaupload, has been released on bail, after a judge surprisingly decreed he was no longer too much of a flight risk.
Following a raid last month, Dotcom was arrested in New Zealand and his assets seized including cars, cash and a mansion. Dotcom was denied bail twice, due to access to money and jets but the latest judge has granted the request, stating that the police have not proven he has any assets left to remain a high flight risk.
The U.S. is looking to extradite Dotcom and six others involved with Megaupload to stand trial over criminal copyright violations and racketeering charges.
Officials in the U.S. have until March 2nd to file the paperwork for extradition with the court. Dotcom has stated he would prefer to stand trial and fight the charges in New Zealand, where he was lived for some time.
Megaupload, at its peak, accounted for 2 percent of all Web traffic thanks to its 66 million users. The site is said to have brought Dotcom and others $150 million in advertising and subscription revenue.