Frozen | KitGuru https://www.kitguru.net KitGuru.net - Tech News | Hardware News | Hardware Reviews | IOS | Mobile | Gaming | Graphics Cards Fri, 13 Mar 2015 12:45:47 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://www.kitguru.net/wp-content/uploads/2021/06/cropped-KITGURU-Light-Background-SQUARE2-32x32.png Frozen | KitGuru https://www.kitguru.net 32 32 Dotcom regains some of his assets, is ‘back in business’ https://www.kitguru.net/channel/jon-martindale/dotcom-regains-some-of-his-assets-is-back-in-business/ https://www.kitguru.net/channel/jon-martindale/dotcom-regains-some-of-his-assets-is-back-in-business/#respond Fri, 13 Mar 2015 10:44:01 +0000 http://www.kitguru.net/?p=239778 Kim Dotcom's future has been shakier than usual as of late. Just a couple of weeks ago he claimed to be destitute, and “penniless,”  having eaten through however many millions he made off of the launch of the MEGA file locker, and began requesting access to his frozen assets from the courts, or risk losing his …

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Kim Dotcom's future has been shakier than usual as of late. Just a couple of weeks ago he claimed to be destitute, and “penniless,”  having eaten through however many millions he made off of the launch of the MEGA file locker, and began requesting access to his frozen assets from the courts, or risk losing his rented home. Now though he seems to have bought himself some breathing room, by securing some of his recorded millions still held by authorities, to help pay for legal fees and living expenses.

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Meanwhile Dotcom has been staying busy…

Kim Dotcom has been a rich man for a long time, having made tens of millions from his MegaUpload file locker site before its shut down in January 2012. However he's been in litigation since then and spending upwards of a million NZ dollars a year on his mansion home's rental. He also purportedly spent $9 million upgrading and refitting it, as well as $4 million on sponsoring his Internet Party political organisation. While his home was paid-for until April 2015, that date is rapidly approaching and with funds running dry, Kim Dotcom faced the potential of being kicked out of his home for the past half decade.

However yesterday Dotcom announced via his twitter that a judge had released funds from his frozen assets.

This isn't a one time payment though. The reference to “tranche,” suggests that this will be some form of regular allowance It will need to be too, as Dotcom currently owes legal representation at various companies over $2 million NZ for past services and with his house costing close to $85,000 a month in rent, it won't take long to chew threw that $700,000.

Discuss on our Facebook page, HERE.

KitGuru Says: There is an argument to be made that since Dotcom purportedly – according to authorities – made his money from illegal acts, that he shouldn't have access to the money until he's proved innocent. However, with the old adage of innocent until proven guilty, that seems like a difficult argument to win. Especially considering how strung out his extradition trial has become. 

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Mega shareholder assets frozen in money laundering investigation https://www.kitguru.net/channel/jon-martindale/mega-shareholder-assets-frozen-in-money-laundering-investigation/ https://www.kitguru.net/channel/jon-martindale/mega-shareholder-assets-frozen-in-money-laundering-investigation/#respond Tue, 26 Aug 2014 09:15:26 +0000 http://www.kitguru.net/?p=208921 It's amazing that even when Kim Dotcom isn't kicking up headlines with his extradition trial and its endless delays, or the freezing and unfreezing of his personal assets, his companies still manage to show up in the news. The latest story involves one of the largest shareholders in Mega.co.nz, the encrypted file locker platform that …

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It's amazing that even when Kim Dotcom isn't kicking up headlines with his extradition trial and its endless delays, or the freezing and unfreezing of his personal assets, his companies still manage to show up in the news. The latest story involves one of the largest shareholders in Mega.co.nz, the encrypted file locker platform that Dotcom founded in the wake of MegaUpload's shut down in January 2012. William Yan, who owns almost 20 per cent of Mega, has had his shares frozen as police begin an investigation into him for money laundering.

While Mega and Dotcom aren't involved at all and neither is suspected of any wrongdoing in this case, Yan is being linked with a major crime ring. Though he has yet to be formerly charged, his 18.8 per cent share in Mega has been frozen, preventing him from covering any tracks, should they exist. He's also lost access to several millions of dollars in liquid funds.

Dotcom commented on the case for the NZ Herald, stating simply: “He is an investor who put money into Mega because he believed in it. I had no idea he had any problems or issues.” He also confirmed that at a time, his family trust had sold shares of Mega to Mr Yan, as well as seven other shareholders.

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Sounding more like the plot of a Hollywood action flick, this is all related to the seizure of some 600KG of pseudoephedrine and an ongoing financial investigation into a colleague of Mr Yan, who also had several million dollars worth of assets seized late last year. Six other individuals are also said to be involved in the importing and sale of the drug, with hundreds of charges being handed out.

Mega's official statement was one of aloofness. It wants nothing to do with whatever Mr Yan was up too: “Mega, as a limited liability company incorporated in New Zealand under the Companies Act 1993, is quite separate from its shareholders and is not responsible for the actions of shareholders or their finances.”

KitGuru Says: As separate from this as he is, you have to wonder if Mega being Kim Dotcom's company (even though he stepped down), will end up giving his political opponents some ammunition.

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