MegaUpload Shutdown By Feds For Piracy – Rapper Swizz Beatz CEO

MegaUpload The Media And File Sharing Site Shut Down By FedsMegaUpload.com, a very popular file-sharing site, was shut down today by Feds.  The site was taken down on charges of conspiracy copyright infringements and racketeering.  Authorities also arrested four people in connection with the site.

MegaUpload.com was a well known site used by millions around the world for file-sharing and free download of movies, and music.  The site allowed users to upload software, movies, TV-shows and music which then were available for streaming download by anyone.

According to LA Times, Department of Justice shut MegaUpload.com down after DOJ received an indictment from a grand jury on January 5, 2012.  The website and its operators were indicted on the charges of racketeering conspiracy, conspiracy to commit copyright infringement and other charges.  On Thursday feds executed more than 20 search warrants in United States and eight other countries which resulted in seizing 18 domain names and assets worth nearly $50 million, in Virginia and Washington, D.C.  Assets included server computers that were used to store shared files and run the site.

LA Times also reports that according to the indictment, the site earned $175 million in illegal profits and caused approximately $500 million worth of damage to copyright holders by distributing copyrighted material.  Authorities arrested 4 people in connection with the operation of the site in New Zealand.  There are 3 more people who still are at large.  The seven people, if charged, they can be sentenced to 55 years in prison.  Authorities say that based on its advertisements MegaUpload had approximately 50 million visitors per day.

According to New York Post, rapper Swizz Beatz, whose real name is Kaseem Dean, is the CEO of MegaUpload.  Dean is the husband of pop singer Alicia Keys.  Dean’s name was not listed on indictment.

Music industry is very much opposed to websites like MegaUpload since such sites pose a big threat to the vitality of their business.  It’s very interesting how someone from the industry is associated with a media piracy giant in such high level!  Shutting down MegaUpload is perhaps a welcomed news to media companies, and most likely a big disappointment for the fans of free movies, music and software.

If feds already can shut down suspected copyright infringement websites as big as MageUpload.com, what is the real purpose behind pushing for legislations like SOPA and PIPA!?  Tech industry fear about SOPA and PIPA now seems more valid.  SOPA and PIPA are perhaps designed to do more than what politicians claim!

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