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Megaupload Founder Seeks Bail

After the US government closed down the file sharing website, Megaupload, due to alleged $500 million copyright infringement, its founder has appeared in a New Zealand court seeking bail, according to reports.

Kim Dotcom and three other associates made an appearance in North Shore District in Albany, Auckland and sought bail. This information was confirmed by a court spokeswoman on the condition of anonymity. The source also said that this hearing might go on for most of the day.

Dotcom and three others were arrested in Auckland by New Zealand police in a raid that was specially requested by US FBI. Kim has been levied with charges of internet policy as well as money laundering.

For the time being, the court has decided to postpone the decision on bail and commented that the accused is a flight risk.

Judge David McNaughton, stated that, "Given the breadth of issues covered in this bail application and the seriousness of the issues, I am going to reserve my decision," reported BBC.

Mr Dotcom's advocate, Paul Davison, stated that the Megaupload founder "emphatically" denied any charges of criminal misconduct or wrongdoing. Dotcom is a holder of German and Finnish passports and has residents in New Zealand as well as Hong Kong.