BREAKING NEWS: Megaupload

Megaupload founder Kim Dotcom bailed

TVNZ

10:35AM Wednesday February 22, 2012

Megaupload founder Kim Dotcom has been granted bail.  

Dotcom appealed a decision to deny him bail in the North Shore District Court today and his bid was successful. 

The judge has decided that the millionaire, who is accused of internet piracy, was not enough of a flight risk. 

The German national, who is also known as Kim Schmitz, faces extradition to the United States for his role in megaupload.com, which US Federal prosecutors say has cost copyright holders more than $620 million in revenue lost through pirated material.

Dotcom had been remanded in custody after a bail hearing earlier this month. 

Judge David McNaughton had formerly said the risk of Dotcom fleeing the country, even if he was required to report to police regularly, have his computers confiscated and have his movements monitored electronically, was too great. 

Dotcom and three others were arrested in January after police raided his rented mansion in Coatesville, Auckland, at the request of the FBI. Police cut Dotcom out of a safe room he had barricaded himself in.

Mathias Ortmann, Bran van der Kolk and Finn Batato, who were also arrested, had already been granted bail. 

More charges of copyright infringement and fraud were brought against Dotcom and several of his associates by US authorities on Saturday.

Dotcom was originally charged with conspiracy to commit racketeering, conspiracy to commit copyright infringement, conspiracy to commit money laundering, and two substantive counts of copyright infringement.

Dotcom is due to appear in court again on February 22 for an extradition hearing.