Kim Dotcom Declares He Is 'Broke'

[HardOCP News]

Hmmm, I had no idea that renting mansions, running for office and spending millions on attorneys when you have no income could make you go broke. On a related note, I could have sworn Dotcom bragged about Mega being worth hundreds of millions of dollars. Whatever happened to that?

Kim Dotcom, the founder of the seized file-sharing site Megaupload, has declared himself "broke". The entrepreneur said he had spent $10m (£6.4m) on legal costs since being arrested in New Zealand in 2012 and accused of internet piracy.

 

[cdr_74_premium]

Whatever happened to that?

MPAA/RIAA. Done.

 

[CRaschNet]

The plan of the MPAA/RIAA. We can't legally get you, so we will make you broke.

 

[fixedmy7970]

All of assets are frozen as well. lol @ lawyers bailing as soon as he ran out of money

 

[Mezner]

There's a difference between Megaupload being worth 125 million dollars, and it being sold for 125 million dollars (which hasn't/will not happen), as it's not a liquid asset. And since it was seized, there went that potential 125 million dollars down the drain. I'm sure all his assets and income were seized as well which would explain him draining his accounts so fast.

 

[bucketlist]

Holy shit that slob had a hot wife! He ever had five kids with her? I guess money does buy anything.

 

[TheMusketeer]

Holy shit that slob had a hot wife! He ever had five kids with her? I guess money does buy anything.

You're wrong . Gold diggers are attracted to money.

 

[MoFoQ]

You're wrong . Gold diggers are attracted to money.

Which also explains why they are "separated" (and why she lives in the guest house)

 

[CreepyUncleGoogle]

He might be broke, but he's still hugely fat so at least he still has himself...a lot of himself.

 

[Trimlock]

He should probably steal more credit cards.

 

[xJ321x]

 

[TheMadZealot]

He should have bought some Bitcoin and stashed it offline somewhere for his hot wife.

 

[Wierdo]

So in the end he was put on a stake as an example to other peasants, no surprise. Learn your place people, don't mess with the rich.

 

[Wirth'sLaw]

Here is the who cares story of the day.

 

[kent]

With all due respect Steve, no one here is speculating on your finances.

 

[Wierdo]

Basically the strategy of the procecution is to win by bleeding him financially rather than on the merits of the case - wonder why:

http://arstechnica.com/tech-policy/2014/12/kim-dotcom-beats-us-bid-to-get-him-thrown-back-in-jail/

"There are some lawyers that are owed large sums of money, and the only way I was able to pay was to share Mega shares to interested buyers and using what the trust gained with that and now they have been restrained so that route is not available anymore," Dotcom continued.

"Now [the MPAA is] forcing me to go back to the High Court in New Zealand and to the courts in Hong Kong and let them know that the legitimate new assets that I have created are now restrained, and therefore I have to ask the courts to release funds from the assets that were seized in 2012, and that’s what's going to happen in the next few weeks. They have basically taken any chance from me to have any liquidity to have the Mega and Baboom shares. That’s their strategy. They wanted to make sure that I don’t have liquidity and that I don’t have lawyers."

You tax money at work folks. Gotta love these power trip witch hunts.