(AllHipHop News) Top executives at file sharing website Megaupload.com have been indicted and charged with violating piracy laws today (January 19).
Federal prosecutors in McLean, Virginia shutdown Megaupload.com today, claiming that the company has cost copyright holders over $500 million in lost revenue, from pirated films and music being shared on the website.
In recent months, Megaupload.com had garnered support from a variety of artists, including Kanye West, Macy Gray, and Alicia Keys, who is married to Megaupload.com’s current CEO, Swizz Beatz.
Universal Music Group filed a lawsuit against a Megaupload.com in December of 2011 and forced a takedown of the promotional video because, it features artists signed to Universal.
Megaupload.com countersued UMG and YouTube.com and the video was reinstated in December.
Megaupload.com was founded by convicted cyber criminal/entrepreneur Kim Schimtz aka Kim Dotcom and employed over 155 people, mostly software engineers.
No word yet if Swizz Beatz, born Kasseem Dean, is facing charges.
Federal prosecutors denied that there was a link between Megaupload.com’s shut down and the timing of the SOPA/PIPA legislation that would have given the government tighter control and regulation of piracy on the Internet.