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The FBI has shut down popular share filing site, MegaUpload and charged seven people affiliated with the site for online piracy. The Department Of Justice claims the MegaUpload was responsible for $500 million in losses for various copyright owners, while making a $175 million profit.

Recently MegaUpload named hip-hop producer Swizz Beats as CEO and rapper, Will I Am created a music video in support of MegaUpload that featured Kanye West, Mary J. Blige and several other musicians and celebrities.

The Wall St. Journal reports:

Seven people have been charged with online piracy crimes in an indictment unsealed in northern Virginia. Four of those suspects are already in custody, authorities said. The MegaUpload.com website, which was available earlier Thursday, appeared to no longer be online later in the day.

The four were arrested in New Zealand. Federal agents and other law enforcement agencies simultaneously moved to search bank records and server farms in multiple locations around the globe, authorities said. The charges include conspiracy to commit racketeering and criminal copyright infringement.

Read More At The Wall St. Journal

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