Kim Dotcom earned $40m while on bail, court hears
IAN STEWARD
Last updated 12:06, December 1 2014
I'm going home today", declares Kim Dotcom as the internet entrepreneur arrived on day three of his bail hearing at Auckland District Court.
Kim Dotcom has earned $40 million since he's been on bail, but has not used the money to flee the country, his legal team says.
Dotcom, who is wanted in the United States on breach of charges, appeared in the Auckland District Court today for the third day of a bail hearing.
A decision will be issued at 3pm on whether the internet entrepreneur's bail will be revoked or varied to be electronically monitored.
PETER MEECHAM
Kim Dotcom arrives at the Auckland District Court.
United States authorities are challenging Dotcom's bail saying he had indirect contact with a Mega Upload business partner in 2012 in violation of then-bail conditions.
Dotcom's lawyer Ron Mansfield told the court the applicants were relying on the fact Dotcom had access to significant funds and was therefore a flight risk.
Dotcom told the hearing he had earned $40 million since being on bail, mainly from the sales of shares in two new ventures - Baboom and Mega NZ.
Despite this he had not fled the country, even when applications were made to revoke his bail.
"He's had funds available, he's still here, and there's no evidence of any intention to flee our jurisdiction," Mansfield said
Dotcom had access to helicopters but he had not used them to get to an off-shore vessel and leave New Zealand, he said
He had spent $10m on legal fees and one would hardly have spent that sum if he intended to flee, the lawyer said.
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Mansfield said the applicant had suggested Dotcom's former legal representatives Simpson Grierson, had removed any reference to Dotcom from their promotional material because they were concerned about a flight risk.
He said it was an irresponsible submission and presented a letter from Simpson Grierson confirming that was not the case.
Mansfield agreed that Mona Dotcom, Dotcom's estranged wife, had sought to sell a Rolls Royce that had not been restrained by authorities, but said that when its sale was queried, the transaction was stopped.
Mona Dotcom, who at the time was pregnant, had been left with no money, no bank accounts and no access to funds. Her efforts were the legitimate actions of a woman who needed money to maintain her household and her pregnancy, he said.
During cross-examination, Dotcom testified to his financial state and what assets he still had access to.
A family trust owned the interest in the businesses but that interest had now been restrained because of a civil copyright suit brought by American film studios, he said.
Mansfield suggested the real goal of the hearing was not Dotcom's bail, but rather getting the internet entrepreneur to divulge financial details on oath.
- Stuff
