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ExtraTorrent.cc > Articles > Mega to Be Listed on NZ Stock Exchange

Mega to Be Listed on NZ Stock Exchange

Mega to Be Listed on NZ Stock Exchange

Added: Wednesday, April 2nd, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
A file-sharing service launched by Kim Dotcom while on bail will be listed on the New Zealand stock exchange valued at $180 million. The MegaUpload founder, also known as Kim Schmitz, is still fighting efforts by US authorities to extradite him to face online piracy charges over MegaUpload.

The New Zealand authorities arrested Kim Dotcom two years ago at his house in a raid requested by the Federal Bureau of Investigation. Mega founder is free on bail and keeps fighting the extradition, though his movements are restricted.

After a reverse takeover deal was announced between Mega, the file-sharing service Kim launched a year after his MegaUpload was seized, and local investment company TRS, Dotcom pointed out that even on bail he managed to build Mega from scratch. TRS said to the New Zealand stock exchange that it had a conditional agreement to acquire Mega via a share issue to its shareholders.

Mega, a file-sharing service launched last January by Dotcom and a number of other people previously involved in MegaUpload, offers encrypted, cloud-based data storage and currently accounts for around 7 million registered users.

According to New Zealand company records, Mega’s shareholders include Kim’s wife, via a trust, with a 26% stake. Although Kim Dotcom isn’t listed as a shareholder nor a director, he is named on the site as a principal strategist.

Mega CEO explained that the company had planned to list but had chosen the back-door route as it was cost-effective and efficient. He also added there was no concern Mega would get embroiled in Kim’s extradition battle, because this issue has nothing to do with MegaUpload, which is a completely separate legal entity.

Kim Dotcom, a German national with New Zealand residency, and three of his colleagues from MegaUpload were arrested two years ago on US charges of online piracy, money-laundering and racketeering. All of them have been battling NZ and US federal authorities in courts since over access to funds, admissibility and disclosure of evidence, along with the legality of search warrants. Another extradition hearing is scheduled for July 2014.

The authorities of the United States allege MegaUpload cost movie studios and record companies over $500 million by encouraging paying users to store and share copyrighted content like films and TV shows. In response, Kim claimed that MegaUpload was just an online warehouse and can’t be held liable for storing the content which was obtained illegally.

Posted by:  SuperAdmin
Date:  Wednesday, April 2nd, 2014

Comments (4) (please add your comment »)

posted by Kitty (2014-04-02 02:25:15)
redbull99 avatarlove this guy stick your two fingers up to the american government

posted by Trusted UploaderSite FriendET junkieET loverSupermanSun (2014-04-02 03:46:21)
bone111 avatarHit the nail on the head with that last part its the users that put all the illegal stuff on it not the company

posted by ET loverKitty (2014-04-02 13:17:35)
greymongel avatarstill dont care for the guy himself.....have u seen some of his "lavish" videos od himself flaunting his money and toys around......i dont think whay he did was all that wrong although legally i guess they say it was...... thnx for the articles as always keep up the hard work OZIMAN

posted by (2014-04-03 02:28:50)
No avatarKim dotcom is all good, screw American Govt! Hypocritical Bastardos they are.

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