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Schmitz to try to reclaim some of his Mega fortune

By | Published on Monday 6 February 2012

Kim Schmitz

Having failed to win bail last week, MegaUpload founder Kim ‘Dotcom’ Schmitz is now trying to regain control of some of his fortune, according to the Herald Sun newspaper in Australia.

As previously reported, Schmitz, one of four men arrested in New Zealand at the request of the US authorities last month in connection to their executive roles in the controversial Mega business empire, was refused bail for a second time on Friday. Prosecutors say Schmitz might try to return to his home country of Germany where it would be much harder for the US to extradite him.

According to the Herald Sun, this week the Mega chief’s lawyers will turn their attention to the mutli-million dollar fortune he amassed running the Mega companies. All of Schmitz’s assets were seized as part of the raid on his $30 million rented mansion in New Zealand, but papers filed with the Auckland High Court argue that the freezing orders went too far, and some of the Mega founder’s fortune should be returned while he awaits extradition.

Schmitz’s aids have also criticised the New Zealand authorities for the way they raided the Mega team’s rented home last month, with his former security chief describing the raid as a “home invasion by New Zealand police at the urging of the US government”. In particular they have criticised officers for failing to act quickly enough when Schmitz’s pregnant wife became ill during the raid, but the country’s police say they are happy with the tactics they employed to ensure the four Mega execs were taken into custody.