MegaUpload’s $42 Million In Assets Seized

FBI cracked down on MegaUpload a few days back. MegaUpload was one of the largest file-sharing sites online and has been accused by numerous content producers of stealing their copyright content. The crack on MegaUpload was worldwide, with members arrested from different countries. Now it has been reported that Customs officials in Hong Kong raided different MegaUpload offices and seized about $42 million in assets. This is definitely a huge setback for the websites and it’s owners who are already in huge trouble.

The raids which were carried out on MegaUpload properties in Hong Kong involved 100 officers. The Customs agency reported that huge amounts of digital evidence has been recovered from these places along with about $42 million in assets. The agency has frozen these assets as of now, in line with the related ordinances.

The charges that have been leveled against the crew which was managing MegaUpload include racketeering conspiracy, online piracy, conspiring to commit copyright infringement and money laundering. Different content producers from the film industry have claimed that the website has costed them a dear $600 million by stealing their copyright content. If indeed these charges hold any substance, those responsible may have to head to the jail for 20 years.

Kim DotCom, a chief figure of MegaUpload, is among those who are arrested. He was arrested in New Zealand and may soon be extradited to US. According to reports, Kim has been involved in different felonies and minor crimes earlier and owns a number of very expensive cars and properties, which allegedly have been the fruits of his MegaUpload venture.


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