Megaupload Founder Kim Dotcom Denied Bail

Following the string of controversy surrounding copyright infringement and the abolishment

of file sharing site Megaupload, the webpage's founder, Kim Dotcom, has been denied bail.

Dotcom was arrested in his New Zealand home on charges of copyright, money laundering and conspiracy and will remain in custody until February 22. The FBI, who claim that his work with Megaupload accumulated to $500 million in lost revenue for the US, is making an effort to have Dotcom extradited to the United States. On Wednesday, the presiding judge, Judge David McNaughton, denied Dotcom’s bail requests on the grounds that he presented a flight risk.

"With significant determination and financial resources, flight risk remains a real and significant possibility which I cannot discount and bail is declined," wrote McNaughton in a 20-page statement.

It also seems that Dotcom is no stranger to criminal activity, to which he even joked about in newly-revealed e-mails to his neighbors. "I am a former hacker" who was once convicted of insider trading,” he wrote. "In all seriousness: My wife, two kids and myself love New Zealand and 'We come in peace.” He then went on to jokingly offer to help neighbors with insider stock tips and tax fraud.

Thus far, the U.S. has charged seven men, including Dotcom, in the conspiracy case and are seeking extradition for four of which, who were arrested in New Zealand. --Jazmine Gray