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Dotcom 'pirate' awaits bail decision

More than $17 million worth of assets have been seized from Dotcom's home by police

Last week he was reportedly making preparations for a lavish birthday bash at his multi-million dollar rented mansion but on Tuesday morning internet piracy accused Kim Dotcom woke to the inside of a prison cell.

Dotcom, 38, co-founder of the world's largest file sharing website, Megaupload, has been remanded in custody since Friday morning when he and three associates were arrested during an extensive police raid at Dotcom's Coatesville home, north of Auckland.

The four men, of which two are New Zealand residents, including Dotcom, are accused of racketeering, money laundering and internet copyright piracy in the United States amounting to $175 million in criminal proceeds.

In the North Shore District Court on Monday afternoon Judge David McNaughton reserved his decision on bail for Dotcom until Wednesday at the latest.

The other three accused were remanded in custody pending a bail hearing later this week.

Judge McNaughton said the outcome of Dotcom's bail hearing would affect the bail decision for the other accused.

The crown strongly opposes bail.

The accused do not face charges in New Zealand but local police have been aiding the FBI with investigations since August last year.

Prosecutor Anne Toohey said Dotcom was an "extreme" flight risk as he had access to large amounts of money, held three passports in different names and had been deported from Thailand in 2010.

Dotcom's lawyer Paul Davison told the court Dotcom had left Thailand at his own free will and since 2010 had only used the passport under the name Dotcom.

He was also not a flight risk because his wife and children lived in Auckland, Mr Davison said.

More than $17 million worth of assets have been seized from Dotcom's home by police, including two pistols.

Nominations for the 2012 ARN IT Industry Awards open on Tuesday, June 12.

More about: FBI

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