Megaupload Founder Released on Bail

Megaupload Founder Released on Bail

Kim Dotcom was released on bail from a New Zealand prison on Wednesday after the judge frankly stated he does not think he has enough money to be a flight risk.

The 38-year-old millionaire founder of the website Megaupload, also known as Kim Schmitz, and three co-workers were extradited to face charges of conspiracy to commit copyright infringement and conspiracy to commit racketeering. Last month, Megaupload’s website was shut down by U.S. authorities as they announced the indictments against Dotcom and six other people connected to the site.

Initially, bail had been denied last month when the judge saw evidence that suggested Dotcom would flee if released. However, new information, including an affidavit from the CFO of Megaupload showing Kim has no money and the judge learning he only holds passports for Finland and Germany (which the US has extradition treaties with) led the judge to his final decision.

Dotcom’s release on bail comes after a month behind bars. He is married with three children and his wife is pregnant with twins.

Photo:  Sandra Mu/Getty Images