As previously reported, Megaupload was shut down Thursday by the federal government and accused of “costing copyright holders more than $500 million in lost revenue from pirated films and other content.”
According to the Associated Press, the Justice Department arrested several executives, including Kim Dotcom, formerly known as Kim Schmitz. Three other executives were arrested Thursday in New Zealand at the request of U.S. officials while two other defendants remain at large.
In a strange twist of events, rapper and producer Swizz Beatz revealed that he is the CEO of the file-sharing giant, but was not named in the indictment.
With over 150 million registered users, Megaupload is quite possibly the largest file-sharing company in the world. The indictment comes a day after internet users across the globe, as well as industry giants such as Google, Wikipedia and Reddit, protested the Protect IP act known as PIPA.
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