Two weeks after MegaUpload founder Kim “Kim Dotcom” Schmitz was granted bail in Auckland, and conditional residency in New Zealand, a Hong Kong court has convicted him on eight business charges.
The charges in Hong Kong are relatively minor, and relate to technical improprieties in the purchase of shares. This resulted in a fine of $8000 for Mr. Schmitz.
According to court documents published in New Zealand’s Stuff newspaper, Mr. Schmitz was concerned that these charges may impact his residency status.
Ultimately, because of the minor nature of these charges there was no impact on his residency status. Mr. Schmitz applied for residency under the Investor Plus category after investing $10 million in government bonds – which allowed him to gain residency despite not meeting the good character requirements.
Mr. Schmitz is on bail awaiting a hearing to extradite him to the U.S to face charges of infringing copyright on films and music, racketeering and money laundering.