Megaupload's Kim Dotcom granted bail

After a judge in New Zealand said that Kim Dotcom’s flight risk weakened because all his funds were seized and there were no other assets with him

Kim Dotcom (Schmitz), the founder of the file-sharing site Megaupload, has been granted bail by a New Zealand court, after a judge determined that authorities had seized any funds he could have made use to flee from there.

Dotcom has been in prison since January 20, following allegations by the US authorities that Megaupload and its related sites raked in millions in 'criminal proceeds' by sharing pirated copies of movies, music and other content, according to the Reuters.

Dotcom, by facilitating this illegal act, was accused of costing copyright holders more than $500m (£320m) in lost revenue.

Dotcom told the reporters in Auckland that he was relieved to go home to see his family, his three little kids and his pregnant wife.

North Shore District Court Judge Nevin Dawson said that Dotcom's flight risk weakened because all his funds were seized and there were no other assets with him.

Megaupload, founded in 2005, was shut down in January by authorities.

Dotcom, denying any criminal misconduct, said he will fight extradition to the US.

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