Megaupload’s Kim Dotcom Out On Bail

Kim Dotcom, founder of the popular file-sharing website MegaUpload, has been released after a judge decided that he lacked the means to flee, because of the seizure on his funds. The site was shut down in January and several employees were arrested for violating piracy laws.

The site had been accused of costing copyright holders over $500 million in lost revenue from pirated music and other content. The shut-down comes only days after websites such as Wikipedia and Reddit shut down services in protest of proposals (SOPA/PIPA) intended to stop online piracy.

“I am relieved to go home to see my family, my three little kids and my pregnant wife,” said Dotcom, speaking to reporters outside court. “And I hope you understand that that is all I want to say right now.”

Police raided his $23 million mansion, in a Hollywood blockbuster style arrest, where they seized two firearms from the premises and more than 18 luxury automobiles.

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