Megaupload Founder Kim Dotcom Released on Bail

Kim Dotcom - the founder of the now defunct file sharing portal Megaupload has been finally granted bail by a New Zealand court on Tuesday. However, in order to ensure that Dotcom cannot flee the country, the court asked to seize all his funds immediately.

Dotcom was arrested by the New Zealand law enforcement agencies on January 20 this year from his residence and had been denied bail ever since. It was during that time only when the US government also stepped up and shut down Megaupload.com - one of the most commonly used online file sharing platform. The move was however, severely criticised by an overwhelming proportion of the Internet community as well as experts from all around the globe.

Dotcom, after this latest verdict by the court, came out wearing a smile on his face and had a brief conversation with the awaiting reporters outside before finally being escorted to a truck waiting for him in the court premises.

"I am relieved to go home to see my family, my three little kids and my pregnant wife. And I hope you understand that that is all I want to say right now,' a seemingly relieved Dotcom told the reporters outside, The Dailymail reported.