Two Megaupload Execs Granted Bail

Bram van der Kolk and Finn Batato - the two Megaupload executives who were arrested in New Zealand last week along with the site's founder Kim Dotcom for allegedly promoting online piracy.

According to new and confirmed reports, both Batato and Kolk have been granted bail by a New Zealand court after the judge hearing the case came to the conclusion that the duo posed minimum flight risk.

Authorities claim that Hong Kong based Megaupload Ltd. generated over $175 million as per criminal proceeds. In addition, the website allegedly also caused copyright owners a financial loss of more than half a billion dollars by hosting and promoting pirated content.

Judge David McNaughton stated in a written decision that since the duo posed very little fleeing risks, they could be granted bails, albeit with appropriate conditions. On the other hand Mr Dotcom's bail was denied on Wednesday as the court decided that he was posing high flight risks.

Expressing his reaction to the concerns expressed by the US government over Bram van der Kolk's bail application, the judge said: "However, as noted in my earlier decision the possibility of reviving the business from another site outside the jurisdiction of the United States is a factor completely outside the Court's control".