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Kim Dotcom loses appeal against extradition to the US

The owner of the now-defunct Megaupload file sharing site still has one more chance though.

Kim Dotcom

Kim Dotcom, from a 60 Minutes segment that aired in January 2014.

Screenshot by CNET/CBS

Kim Dotcom may soon be sent over to the US from New Zealand to stand trial over copyright infringements amounting to an estimated $500 million (roughly £377 million or AU$677 million converted) as well as fraud.

This comes after New Zealand's Court of Appeal ruled that Dotcom and three others can be extradited to the US over the now defunct file sharing site Megaupload, according to a report by the BBC Wednesday. An earlier High Court ruling was also in favour of extradition.

Dotcom still has one more chance though, and that will depend on New Zealand's justice minister, who has to decide if Dotcom, as well as three others, will be extradited.

The US has been seeking Dotcom's extradition since 2012, and the process has been full of pitstops, with the Megaupload founder suing the New Zealand government for $6.8 billion and then failing in his bid to prevent the US government from seizing $40 million from his overseas accounts.