Megaupload bail decision reserved

Megaupload bail decision reserved

Kim Dotcom and other defendants will remain in custody

Kim Dotcom and the other Megaupload defendants may have to wait until Wednesday to find out if they can be released on bail.

Judge David McNaughton has reserved his decision until tomorrow or possibly Wednesday, until which time the defendants will remain in custody at Mount Eden remand centre.

Kim Dotcom, founder of the file sharing site Megaupload, appeared at North Shore District Court this morning for a bail hearing along with three other men involved in the case.

Dotcom, along with chief marketing officer Finn Batato, Mathias Ortmann, chief technical officer, Ortmann and Bram van der Kolk, programmer, were arrested on Friday by New Zealand Police who executed provisional arrest warrants requested by the United States Department of Justice.

All four defendants are expected to apply for bail pending an extradition hearing. Lawyers representing the US government have opposed bail for all four defendants.

The Crown earlier opposed bail for alleged pirate Kim Dotcom, who today appeared in the North Shore District Court facing charges of copyright infringement, and faces possible extradition to the US.

Crown Prosecutor Anne Toohey said if extradited, Dotcom could face 5 to 20 years in prison, and the US government has expressed it will seek the maximum penalty.

The Crown claims Dotcom poses a significant flight risk because of the funds that are available to him.

Dotcom's own lawyer, Paul Davison QC, said his client's funds have all been seized and has offered to the court a previously undiscovered Rabo bank account as a show of good faith.

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