Megaupload.com founder denied bail, faces U.S. extradition

According to Adli Law Group,
The saga continues in the international copyright criminal investigation involving megaupload.com. The founder of the Hong Kong based online file sharing and storage company was recently denied bail pending extradition to the U.S.
Kim Dotcom, the 37-year-old German-Finnish citizen and head of the online internet giant, was arrested last week amid allegations of copyright infringement. Specifically, he is facing charges involving illegal downloading of copyrighted television, film, music and various other types of content.
Last week, the U.S. seized the company’s domains and shut down the operation. Megaupload.com is alleged to have generated approximately $175 million in profits from their operation.
Dotcom appeared before Judge David McNaughton and requested bail but the judge denied the request and indicated that “With sufficient determination and financial resources, flight risk remains a real and significant possibility, which I cannot discount.”
Prior to founding Megaupload.com, Dotcom was known as a hacker and also worked as an IT security consultant. He faces up to 20 years in federal U.S. prison if extradited and found guilty of the charges.
The extradition hearing is set for February 22, 2012.
Source: Herald Sun, Kim Dotcom: Innocent man or internet thief…? Jan 28, 2012.