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The New Zealand justice has rejected on Wednesday, 25 January 2012, the appeal to release on bail the founder of the website Megaupload, who is accused of copyright infringement.

Kim Dotcom, the 37-year-old internet tycoon who was born in Germany will remain in detention until the 22nd February 2012.

” There is always a risk that he can flee from New Zealand since he is very wealthy”, explained the Judge David McNaughton in a written judgement. According the US authorities, Kim Schmitz has made 42 millions dollars (32 millions euros) only in 2010 from his internet activities.

The MegaUpload founder seemed upbeat as he was ordered to remain in detention until a US extradition application is formally launched on February 22, winking at supporters in the court with his hands on his hips.

The internet tycoon lawyer Paul Davison said Dotcom was disappointed with the bail decision and would appeal very quickly,

“All of his assets have been frozen, all of his resources have been seized. He is living here with his wife and family. He does not have any plans to leave New Zealand,” Davison told reporters.

Kim Dotcom, also known as Kim Schmitz and three other people who were in charge of the website have been arrested on
Friday in New Zealand. They were all accused of making copyright owners lose more than $500 million by offering pirated copies of movies, TV programmes and other content on the Megaupload website, they are also accused of illegally generating 175 Million dollars from profits made by subscriptions and advertisement.

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