21 Jan '12, 2am

Megaupload founder held in N. Zealand, home raided - Yahoo! via @yahoosg

New Zealand police seized a treasure trove of luxury goods from the founder of file-sharing site Megaupload.com Friday as four suspected Internet pirates wanted in the United States appeared in court. Armed officers swooped on an Auckland mansion occupied by "Kim Dotcom", whose website was shut down by US authorities on Thursday accusing it of one of the largest cases of copyright theft ever. The police seized luxury cars worth NZ$6.0 million ($4.8 million), including a 1959 pink Cadillac and a Rolls Royce Phantom, as well as "a firearm which had the appearance of a shortened shotgun". NZ$11 million in cash held in New Zealand financial accounts was also frozen pending the outcome of legal proceedings, police said. Dotcom, also known as Kim Schmitz, a 37-year-old German citizen with New Zealand and Hong Kong residency, was denied bail with three other men on Friday when th...

Full article: http://sg.news.yahoo.com/file-sharing-shut-down-seven-ind...

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