( CNN ) -- Kim Dotcom , the millionaire founder of the file-sharing website Megaupload , was released on bail Wednesday after a judge said he did n't appear to have enough money to flee . Under one of the largest anti-piracy crackdowns ever , the U.S. Department of Justice is seeking to have Dotcom , also known as Kim Schmitz , and three co-workers extradited to face charges including conspiracy to commit racketeering and conspiracy to commit copyright infringement . Last month , U.S. authorities shut down Megaupload 's websites and announced indictments against Dotcom and six other people connected to the site , accusing them of operating an `` international organized criminal enterprise responsible for massive worldwide online piracy of copyrighted works . '' They say Megaupload generated more than $ 175 million in illegal profits through advertising revenue and the sale of premium memberships . The New Zealand police arrested Dotcom , a German citizen who has residency in New Zealand and Hong Kong , and the other three at the U.S. government 's request . Megaupload 's lawyers have denied the charges , and online activists have rallied to the site 's defense . An initial effort by Dotcom 's lawyers to obtain bail last month was denied , with the judge at the time concluding that flight risk remained `` a real and significant possibility . '' But on Wednesday , District Judge N.R . Dawson said that `` fresh and new '' information had emerged since and that there was no longer `` just cause '' to keep Dotcom in custody , providing satisfactory bail conditions were imposed . In his 13-page decision , Dawson noted that : . -- Megaupload 's chief financial officer has filed an affidavit supporting Dotcom 's contention that he has no money to flee ; . -- He has only two passports ( one Finnish and one German ) , not three , as previously asserted ; . -- The United States has extradition treaties with Germany and Finland ; . -- No steps have been taken to re-establish the shuttered business ; . -- No new evidence has been uncovered ; . -- Some of Dotcom 's business associates facing the same charges have been granted bail ; . -- An extradition hearing likely will not occur before July , an `` effectively punitive '' period of time , despite the fact that no criminal conduct has been established . Dotcom 's release on bail comes after the U.S. authorities added charges and broadened their case against the defendants last week . The other charges that the accused face include conspiracy to commit money laundering and criminal copyright infringement . Dotcom holds a German passport and two Finnish passports , under the names of Kim Tim Jim Vestor and Kim Dotcom . Prosecutors had said that the multiple passports , as well as bank accounts and credit cards from various countries linked to different names , showed that he presented a flight risk . But Dawson was unswayed . Dotcom `` legally changed his name on two occasions and each passport was obtained in his legal name at that time , '' the judge wrote . `` It is the applicant 's understanding that the first Finnish passport in the name of Vestor would have been canceled when he applied for a new passport from Finland in the name of Dotcom . Suprisingly , no inquiries have been made of the Finnish authorities to confirm this . '' In addition , Dotcom `` is entitled to hold both his German passport and his Dotcom Finnish passport , '' he said . Dawson said Dotcom , at the time of his arrest , had 59 credit or bank cards under 13 names in his possession , 21 of them still valid . But the judge said Dotcom 's possession of so many expired cards could indicate no more than `` a degree of muddlement '' in his financial affairs . The 38-year-old businessman has prior convictions related to computer hacking and insider trading . But Dawson noted that they were `` historical , '' with some of them dating to his teenage years . Dotcom obatined residency status in New Zealand in December 2009 . He is married to a Filipina woman with whom he has three children , and his wife is pregnant with twins . `` The factors against him being a flight risk include that he would live his life as a fugitive , he would be abandoning his expectant wife and three children and he would effectively lose all the considerable assets and bank accounts in a number of countries that have been seized or frozen , '' Dawson wrote . `` It is submitted that he has a good defense to the charges and that he has every reason to stay and fight for his family 's future and his seized assets . '' The arrests of Dotcom and his co-workers , along with the closure of Megaupload , prompted an angry reaction from the activist hacking collective Anonymous . After the prosecution was announced , the group took credit for temporarily crippling the U.S. Department of Justice , FBI and entertainment company websites . CNN 's Marilia Brocchetto and Jethro Mullen contributed to this report .
Kim Dotcom was arrested last month in New Zealand . Judge finds no `` just cause '' to consider him a flight risk . Three Megaupload co-workers were arrested with him . They face charges relating to racketeering and copyright infringement .