Friday, January 20, 2012

Feds close in on Megaupload founder Kim Dotcom...

Kim Dotcom is a hard man to reach. The founder of Megaupload.com, the popular file-sharing site the Federal prosecutors just shut down, has been accused of costing copyright holders more than $500 million in lost revenue from pirated content uploaded to his service--movies, music, TV shows, and so forth. But the chief innovation officer, who oversees more than 30 employees in nine countries, has made a business of testing the legal limits--his umbrella company has pulled in roughly $175 million, according to court filings, of which he received more than $42 million in 2010.

Inquiries to Megaupload over the past year have not been responded to; when I reached out to a source this week who had a connection to Dotcom, the source responded, "Sorry, but Kim told us explicitly not to put him in contact with journalists." But Dotcom hasn't been able to evade the Feds: Prosecutors have indicted him and six other defendants over online piracy, and are seeking the forfeiture of $175 million, dozens of bank accounts around the globe, as well as a stable of Mercedes-Benzes, Maseratis, Rolls-Royces, and Lamborghinis boasting vanity license plates that likely reflect the Dotcom era of Megaupload: "Good," "Evil," "CEO," "God," "Stoned," "Mafia," "Hacker," and perhaps most telling, "Guilty."

 According to court documents, Dotcom owns roughly 68% Megaupload.com, Megaclick.com, and Megapix.com, subsidiary sites of the Mega Conspiracy brand. Dotcom also owns 100% of registered companies Megavideo.com, Megaporn.com, and Megapay.com. This family of sites grew to include more than 180 million registered users. Premium members of the service helped bring Mega Conspiracy more than $150 million, according to the Feds, while online advertising help the company bring in another $25 million. More + videos...

Don't miss:
  1. Movie fans turn to piracy when the online cupboard is bare...
  2. New York youth faces 5 years prison for streaming sports events...
  3. New York man faces five years in jail for ‘linking’ to online videos...
  4. New laws to make copying CDs legal...
  5. Teen fined $2900 for downloading a movie illegally ...
  6. US government finally admits most piracy statistics are bullshit...
  7. Some pirates in Sweden turn file-sharing into a religion!!!
  8. Irish internet provider in legal victory over music downloads...

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