January 20, 2012 in Business

Megaupload.com heads accused of hosting piracy

 

McLEAN, Va. – One of the world’s most popular file-sharing sites was shuttered Thursday, and its founder and several company officials were accused of facilitating millions of illegal downloads of films, music and other content.

An indictment accused Megaupload.com of costing copyright holders at least $500 million in lost revenue.

The Justice Department said in a statement that Kim Dotcom, 37, and three other employees were arrested Thursday in New Zealand at the request of U.S. officials. Three other defendants are at large.

Before the site was taken down, it posted a statement saying allegations that it facilitated massive breaches of copyright laws were “grotesquely overblown.”

The five-count indictment alleges copyright infringement as well as conspiracy to commit money laundering and racketeering.

Associated Press

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