Recently leading online file sharing site Megaupload has shut down as it was hit by piracy indictment. Since its inception in 2005, site has caused an estimated half-billion dollars in copyright losses and made an estimated $175 million in proceeds for uploading music, videos and games on their site.
According to an indictment filed by a grand jury in the U.S. District Court of Alexandria, Virginia on January 5, the defendants were accused of two substantive counts of criminal copyright infringement and conspiracies to commit money laundering, racketeering, and copyright infringement. The indictment listed 103 alleged, overt criminal acts, including a 2010 incident involving a user who watched the television anime series Fruits Basket via a linking site. Source: ANN, ABC
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