Breaking News: Kim Dotcom Arrest in Auckland, New Zealand (Megaupload chief)

A total of 76 police and armed offenders squad officers were involved, as well as four FBI agents who assisted with the inquiry, but not the raid itself.

Police say when they arrived at Dotcom's property at 6:45am, at first Dotcom's bodyguards would not let them in. There were 15 people at the house at the time, including employees and family members.

Two shotguns were found on the property, police are looking into whether these are restricted weapons in New Zealand.

Police have also seized luxury cars with an estimated total value of up to $6m.

These include a Rolls Royce Phantom Drophead Coupe valued at over NZ$500,000. Over $10m has also been seized from NZ financial institutions, including New Zealand government bonds.

"The FBI contacted New Zealand police in early 2011 with a request to assist with their investigation into the 'Mega Conspiracy'," says Det Insp Grant Wormald.

Income generated from the conspiracy is listed as $175 million (US) and this is also required as part of the forfeiture.