FBI Shuts Down MegaUpload.com As Swizz Beats Emerges As CEO
Kasseem “Swizz Beatz” Dean is best known for working with some of the best hip hop artists and producing some of the best hits. It turns out that he is also presently the CEO of Megaupload and was responsible for enlisting celebrities like Diddy, Kanye West, will.i.am, Alicia Keys, and Kim Kardashian to appear in a song called “Mega Song.” He filed a lawsuit against Universal Music Group for having the video taken down from YouTube. Now it appears that the FBI has shut down MegaUpload.com and four people have been arrested as suspects for being online pirates.
Seven people were charged with online piracy crimes and four of them are already in custody. These four people were arrested in New Zealand. Federal agents and other law enforcement agencies moved simultaneously to search bank records and server farms across the globe. The indictment against MegaUpload claims that the website is responsible for $500 million in losses for the copyright owners. Investigators claim that MegaUpload has earned $175 million from pirated content. MegaUpload is currently incorporated in Hong Kong.
[WSJ]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry