Mona Dotcom leaving – the financial threat to the business and the Internet Party

Money has been hard to come by at the Mansion.  Having been ‘forced’ to pay out all his debts that were seriously in arrears as part of the Internet Party launch dented Dotcom’s cashflow somewhat.  Staff have been told about reduced hours and the budgets have had the twice-over.

Publicly, the money never ended. Offers to pay candidates while running for parliament was but one public sign, and sources close to the Mansion report the Internet Party and Mana Party alliance issues have had the sharp end of a million dollars thrown at it recently.

The problem with Mona Dotcom breaking up with Kim Dotcom is that it places a severe amount of risk on the money supply.  Chris Keal explains

The split could potentially complicate Mr Dotcom’s business affairs.

The accused pirate owns no shares in the company with which he is most closely associated, Mega.

Mr Dotcom resigned as a director in September 2013 to help clear the path for his political career. His only legal tie to the file sharing business he founded is through his wife, who holds a 17.73% a stake through MD Corporate Trustee, in which she is the sole shareholder.

Mona Dotcom recently sold down her Mega stake from 26%, with major National Party donor Shen Zhao Wu emerging as the largest shareholder with a 18.28% holding.

Mega is in the throes of a complex backdooor listing on the NZX, involving a reverse takeover by Australian company TRS.

News in March of the TRS-Mega merger proposal sparked a frenzy of trading – which prompted a warning from the Shareholders Association – despite the fact it emerged TRS’ majority shareholder, Melbourne businessman Paul Choiselat is facing 25 securities charges in Australia.

What may have started as a cynical way to place assets beyond the reach of the authorities, putting Mona Dotcom in charge on paper must have seemed the obvious way to go.  We all trust our spouses when things are going well.

But now that the couple are no longer seeing eye to eye, Dotcom’s exact control of those funds and investments is unknown.

Mona Dotcom sold down “her” Mega shares because Kim Dotcom needed the money to fund his many, many legal battles as well as this Internet Party folly.

Sources close to the Mansion say that Kim Dotcom has already instigated legal action against Mona Dotcom to regain control of a substantial amount of cash totaling “a very high 6 figure”.

Whereas their marriage is of no concern to the public, the fact that Mona Dotcom’s finances are so closely linked with Kim Dotcom’s ability to fund his legal ventures as well as his political ones makes this a story where investors as well as Internet Party insiders would like to know the details.

People are staking their commercial futures and some their personal reputations on Kim Dotcom’s ability to keep the money flowing.  Without Mona’s cooperation, this appears to have required legal action by Kim Dotcom as a first step to regain control – not a good sign.


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