Shut Down, Top Executives Indicted For Piracy

(AllHipHop News) Top executives at file sharing website have been indicted and charged with violating piracy laws today (January 19).

Federal prosecutors in McLean, Virginia shutdown 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, had garnered support from a variety of artists, including Kanye West, Macy Gray, and Alicia Keys, who is married to’s current CEO, Swizz Beatz.

Universal Music Group filed a lawsuit against a in December of 2011 and forced a takedown of the promotional video because, it features artists signed to Universal. countersued UMG and and the video was reinstated in December. 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’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.

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