One 12 months after the raid on Megaupload and his sprawling mansion, Kim Dotcom fought again in grand style by launching new file-hosting web site Mega.
It was a roaring success, signing up tons of of 1000’s of clients inside the essential few hours alone. Mega, it seemed, might quickly be kicking at heels of the unprecedented traction of Megaupload.
While Mega continued to grow, in July 2015 Dotcom indicated that his beforehand warmth connections with the placement might have soured.
âIâm not involved in Mega anymore. Neither in a managing nor in a shareholder capacity,” he said.
Dotcom went on to say that a then-unnamed Chinese investor (wanted in China for fraud) had used straw-men and companies to accumulate more and more extra Mega shares, shares that have been later seized as an factor of an investigation by the New Zealand government.
Mega bosses angrily denied that there had been any hostile takeover, noting that “those shareholders” who had decided to not subscribe to latest factors had “…been diluted accordingly. That has been their choice.â
But a 12 months later and the disagreement between Dotcom and Mega was nonetheless simmering, with the Chinese investor now being overtly named as Bill Liu.
A infamous high-roller who allegedly gambled $293m at New Zealand’s SkyCity casino, Liu was quickly being described by Dotcom as China’s “fifth most-wanted criminal” attributable to an infinite investigation into the businessman’s dealings taking place again home.
Mega noticed issues a little bit of differently, however.
âMr Liu has a shareholding curiosity however has no administration or board place so he definitely doesnât administration Mega,â the agency insisted on the time.
Dotcom disagreed strongly with that assertion and this week, greater than a 12 months later, the topic has raised its head but again.
“In a nutshell, Bill Liu has taken administration of Mega by using straw males to buy shares for him, finally giving him the majority on the board,” Dotcom informs TF.
In frequent with the raid on Megaupload, the Mega/Liu backstory is like one factor out of a Hollywood movie.
This week the NZ Herald revealed an fantastic report detailing Liu’s life since he first entered New Zealand in 2001. A part explains how he first bought involved with Mega.
Tony Lentino, who was the founding father of area title registrar Instra, was additionally Mega’s first CEO. It’s reported that he later fell out with Dotcom and needed to promote his shares inside the company.
Bill Liu needed to speculate so Lentino went to fulfill him at his penthouse condo on the thirty fifth floor of the Metropolis tower in central Auckland.
Lentino later informed police that Liu opened a bottle of Penfolds Grange wine by means of the meeting – no joke at $800 per bottle. That developed proper into a dialogue about Liu procuring for Lentino’s stake in Mega and a considerably attention-grabbing journey again house for Lentino.
“You want one in all my vehicles to take home?” Liu allegedly requested Lentino.
The basement contained a Porsche, a Bentley and a Rolls-Royce – and Lentino was invited to take his pick. He took the NZ$400,000 Rolls as an factor of the NZ$4.2 million share in Mega he transferred to Liu.
Well, not pretty to Liu, instantly at least.
“When it bought here time to signal the deal, the shares have been to be chop up into two parcels: one inside the title of Zhao Wu Shen, a detailed good friend of [Liu], and a notion company,” NZ Herald reports.
“It was the third transaction the place Yan had been quietly procuring for into Mega – nothing was in his name, however he now managed 18.8 per cent.”
It isn’t clear how a lot Liu presently owns however Lentino later informed police (who believed that Liu was hiding his assets) that the Chinese businessman was the “invisible CEO” of Mega.
Speaking with TF this week, Dotcom says that Liu achieved his standing by holding Mega back.
“Liu used his power to cease Mega from monetizing its visitors through promoting gross sales or premium account gross sales and by doing so he created a man-made situation by means of which Mega needed to enhance extra money to survive,” Dotcom says.
“He then pumped double-digit hundreds of 1000’s of dollars into the enterprise through his straw males with the intention to dilute all completely different shareholders to virtually zero.”
Dotcom says that Mega could’ve been “instantly profitable, ” however as a substitute Liu deliberately pressured the agency proper into a loss-making situation, protected inside the knowledge he may “turn on profitability on the push of a button.”
Dotcom says Liu chosen to not try this till he instantly or in a roundabout way owned “almost all” of the shares in Mega. That, he says, bought here on the expense of his family, who had invested in Mega.
“The household notion that was setup for the benefit of my youngsters owned the overwhelming majority of Mega till Bill Liu entered the stage collectively with his illegal actions to take administration of the company,” Dotcom says.
“He ran it at a loss when it could have been profitable, after which diluted completely different shareholders.”
According to Dotcom, the people behind his household notion at the second are contemplating their options, collectively with authorized movement in the direction of Liu and others.
“The trustees of the household notion at the second are contemplating authorized movement in the direction of all events involved on this dilution rip-off in gentle of the mannequin new information that has become public at the second from completely different courtroom proceedings in the direction of Bill Liu,” Dotcom concludes.
It’s tough to discover a extra colourful character than Dotcom, however Bill Liu definitely gives Dotcom a run for his money. His story will be found here, it’s virtually unbelievable.
Source: TF, for the latest information on copyright, file-sharing, torrent sites and ne of the ANONYMOUS VPN services.
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