Is Kim Dotcom’s Net Worth About To Plummet? ‘MegaUpload’ Founder Faces Charges For Site’s Alleged Use
Kim Dotcom’s net worth may be hitting rock bottom soon. The founder of MegaUpload is in Auckland, New Zealand, and will face charges on Thursday over his site.
For those who don’t know, MegaUpload was a file-sharing website which had been used to facilitate internet piracy. Though that might not have been Kim’s intention, it had become a popular hosting site for people allegedly uploading and downloading copyrighted material such as music, movies, and video games. Several sites still do the same, and if Mr. Dotcom is charged, it is unknown if there will be a ripple effect causing the end of file-sharing sites.
It currently stands that many sites, such as those used for torrents, are not responsible for the content being linked through them. However, those sites don’t actually host anything, and can be used for the transfer of home videos and other harmless data. They often state directly on the site that the responsibility lies directly on those posting links and those using them.
Unfortunately, the charges of facilitating internet piracy, among other things, could end up destroying Kim Dotcom’s net worth and getting him extradited to the United States. The decision will be made on Thursday, despite his lawyers attempting to have the court date postponed, according to TorrentFreak.
Kim’s funds have been seized by the FBI, making it difficult for the MegaUpload founder to do anything to defend himself.
This morning, Judge Nevin Dawson released his decision and gave Dotcom and his associates their options.
“The interlocutory applications now before the Court are such that they would best be heard and considered by the Court during the eligibility hearing as they are largely contextual in nature.
The Court would be better placed to rule on these applications, having had the benefit of hearing the evidence of the eligibility hearing.
If [Dotcom and his associates] are successful in their applications that might lead to an adjournment or conclusion of the hearing. The respondents would suffer no prejudice if either of these outcomes should come about. All parties ultimately have their rights of appeal.”
With no money at his disposal and a possible extradition in his future, Kim Dotcom’s net worth could drop faster than most.
ABC News reveals that Kim and his associates don’t believe they’re fighting just for themselves. They believe this case is about censorship vs internet freedom.
This case is not just about me. This case is about how much control we allow US corporations and the US government to have over the Internet
— Kim Dotcom (@KimDotcom) September 20, 2015
The judges on this case can become the champions for billions of Internet users or a handful of US content billionaires. #Hope
— Kim Dotcom (@KimDotcom) September 20, 2015
With his assets, cars, and website all taken away from him, Kim Dotcom’s net worth may be doomed.
[Image via Simon Watts / Getty Images]
