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Megaupload founder granted bail

Posted on 22 Feb at 6 PM Tags: Currency Exchange, Property,

File-sharing tsar has been given bail by a court in New Zealand.

Kim Dotcom, 38, who founded the website Megaupload, has been in jail since 20 January following a request by the US authorities. The US has accused him of being responsible for one of the biggest copyright infringement cases in the history of the country, reports the BBC.

Megaupload is accused of preventing copyright holders from earning over $500m (£320m). Nevin Dawson, the North Shore District Court Judge, overturned two former rulings that German national Dotcom is an "extreme flight risk" as he has the money to leave the country.

The judge claims the risk is less as his funds have been seized and there are no new assets or bank accounts had been found. Mr Dotcom said to reporters in Auckland that he was thankful to be able to return home and spend time with his family, which includes three children and a pregnant wife.

Dotcom was charged on 17 February with three more criminal copyright counts and even more new wire fraud counts. Before that he was already charged with racketeering, conspiracy to commit money laundering and criminal copyright infringement. US authorities want to extradite him and three other co-defendants who have already been granted bail.
The NZD exchange rates on 22/02/2012 were as follows: GBP NZD = 1.8913, EUR NZD = 1.5998, USD NZD = 1.207, AUD NZD = 1.2835, CHF NZD = 1.3257, INR NZD = 0.0245, AED NZD = 0.3289, MXN NZD = 0.0939, CAD NZD = 1.2076, ZAR NZD = 0.1562, RUB NZD = 0.0406, . See today's New Zealand Dollar Exchange Rate
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