According to reports a judge in New Zealand has Bram van der Kolk and Finn Batato – two megaupload executives who were arrested in New Zealand were granted bail as they fight extradition to U.S.. New Zealand Judge David McNaughton revealed Van der Kolk and Batato posed minimum flight risk, subject to bail conditions. Reports claim Megaupload Hong Kong based firm generated a staggering $175 million as per criminal proceeds. In addition, the website allegedly also caused copyright owners a financial loss of more than $500 Million.
Megaupload Chief Kim Dotcom was denied bail, but will be appealing the decision, Kim Dotcom’s lawyers claims that with his assets frozen and his family in New Zealand, the Megaupload chief has neither the means nor the motivation to leave the country. Judge McNaughton stated Kim Dotcom was accused of the largest Internet copyright piracy case in US history, and prosecutors had vowed to seek maximum penalties of 20 years.