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Kim Dotcom Says He Is Officially Broke

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B

Blablurn

Member
German entrepreneur Kim Dotcom has acknowledged that he has run out of money after spending over $10 million on legal costs.
Speaking through a Skype call at the unBound Digital conference in London, Dotcom said his three-year legal fight could be coming to an end. "My legal team resigned after I ran out of money," Dotcom said. "I spent $10 million to defend myself. They have drained all my resources."

Dotcom was arrested in 2012 after a dramatic police raid on his $24 million mansion in New Zealand. The New Zealand government had worked together with copyright enforcement agencies in the US to bring down the serial entrepreneur, accusing him of aiding copyright pirates through his Megaupload file-sharing site.

Dotcom said the appearance could be his last public interview, because he suspected that the New Zealand government could use his lack of funds to revoke his bail Thursday during his next bail hearing.

"I'm an easy target because of my flamboyant lifestyle," he said. "It's hard to keep a low profile when you have number plates with 'GOD' and 'STONED' on them. Also, I’m German, and Hollywood loves German Bond villains."

At its peak, Mega was one of the biggest sites on the internet. Accounting for over 4% of global internet traffic, the file-sharing site had 50 million unique visitors every day. It even launched high-profile ad campaigns with big names in the entertainment industry.

But the police accuse Dotcom of enabling online piracy, charging him with racketeering, conspiring to commit copyright infringement, and conspiring to commit money laundering.

Dotcom has always denied the charges against him, saying Tuesday that "Megaupload had 100% takedown for clients and gave Hollywood studios direct access. It was the same story with Iraq and weapons of destruction. The US government abused its power. It has no ethics anymore. I’ve lost my faith in the law. It’s just 'who pays, wins.'”

Exactly one year after police shut down Megaupload, Dotcom launched a new file-sharing site: Mega. This new site features strong encryption, advertising itself as a safe place to store files away from government spying. Dotcom says that Mega has merged with a company listed on the New Zealand stock exchange and is valued at $210 million.

But Dotcom made it clear to the audience at unBound Digital that he had no ownership stake in Mega. Instead, the company is owned by his wife, from whom he recently separated.


A recent report in the New Zealand Herald said that Dotcom was living alone in his giant mansion, prevented from venturing outside. But Dotcom denied those claims Tuesday:

"They said I’m a lonely man alone in my mansion, but my kids are living with me. I’m playing with them every day. I’m a happy man because of my kids. If they were not around, it would be much darker."

Facing a return to jail after running out of money, Dotcom had a single plea for the audience in what may be his last interview: "If I go back to jail, send me cards ... cards with photos of cats on."

Source: http://www.businessinsider.com/kim-dotcom-im-officially-broke-2014-11
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M

maquiladora

Member
Pop-O-Matic said:
I guess you can say that Dotcom's bubble "burst."
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17tqx06cq0rrxgif.gif
 
S

see5harp

Member
Dude has a 20 million dollar home and a fleet of cars. Dude has speakers that cost nearly as much as my home. Don't worry this dude will be fine.
 
Pegasus Actual

Pegasus Actual

Member
Kim Dotcom is the man, I hope whatever he has going on with his wife keeps his riches with him instead of with corrupt governments.
 
W

whatever77

Banned
I think he just funnel the remaining money to his wife and still runs Mega.

It's good for his wife though, with the company in her name.
 
M

Mechanized

Member
How much does he get in child support, how much does/did he get in the divorce? What are the laws regarding that.

Also are they just "separated", or actually divorced? This sounds like a way to get around him paying out anymore cash.
 
d00d3n

d00d3n

Member
The legal case against Megaupload and Kim Dotcom is a gross miscarriage of justice. The take home message here is that if you are an IT entrepreneur working in the west, you are allowed to operate only if the financiers of the US political system ("lobbyists") allow you to. This is irrespective of what country in the west you live in. Apparently also irrespective of how successful you are - even 10 million dollars will drain fast when you try to defend yourself against baseless accusations.

I love many aspects of the US, but please stop enforcing your domestic laws internationally.
 
S

speculawyer

Member
d00d3n said:
The legal case against Megaupload and Kim Dotcom is a gross miscarriage of justice. The take home message here is that if you are an IT entrepreneur working in the west, you are allowed to operate only if the financiers of the US political system ("lobbyists") allow you to. This is irrespective of what country in the west you live in. Apparently also irrespective of how successful you are - even 10 million dollars will drain fast when you try to defend yourself against baseless accusations.

I love many aspects of the US, but please stop enforcing your domestic laws internationally.
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New Zealand has copyright laws too, you know.
 
E

enzo_gt

tagged by Blackace
If his wife left him for real I think that's super fucked up.

Otherwise, I have little sympathy for the US with pretty much anything related to this case.
 
M

massoluk

Banned
Heh, my relative wanted a divorce from his wife too after he started getting a bit too high profile in some official political post.

He still lives with her in the same house all lovey dovey. He's said it's a matter of common sense to not have her liable for whatever may happen to him.
 
T

Tatsumaki Senpuukyaku!

Member
Yeah Kim dotcom one of the least ethical people on planet earth somehow ended up divorcing his wife and giving her his 210 million dollar company right as the heat was coming down on him nothing fishy abiut that.
 
T

thejpfin

Member
Kim didn't really look "broke" when I watched Halo stream week ago that was streamed from Kims mansion. Can't be sad (or look broke) if you can play videogames 24/7 I guess.
 
d00d3n

d00d3n

Member
speculawyer said:
New Zealand has copyright laws too, you know.
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Has he been charged with breaking copyright laws in New Zealand? I thought the legal proceedings against him was an extradition case initiated by the US to transport there and charge him there. The evidence against him will not be revealed in full until he arrives in the US.
 
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