Megaupload Founder Kim Dotcom Wins Back Assets

Although the taking down of Megaupload.com, coupled with Kim ‘Dotcom’ Schmitz’ arrest, made major news a couple months ago, things are starting to look up for the founder of this controversial file sharing website.  After a recent New Zealand court hearing, it appears that Kim Dotcom has regained about $750,000 in assets.  More details after the jump.

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In a previous post, we mentioned that Kim Dotcom’s house was raided, in which many of his assets being seized, including an impressive car collection.  It appeared that Kim Dotcom would face up to 20 years in jail for money laundering, racketeering and copyright infringement.  Now, Kim Dotcom’s luck is beginning to shift since the New Zealand High Court unfroze a bank account with $300,000 and returned a $250,000 Mercedez to Dotcom.

Although this is all good news to Kim Dotcom, he will probably end up needing to use many of these unfrozen funds to pay for legal fees, possible civil claims, along with his extradition to the U.S. that was requested last month.

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By Carey Uhl Posted in News


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