The Associated Press is reporting that federal prosecutors in Virginia have shut down Megaupload.com, one of the world’s largest file-sharing sites. The indictment accuses the company’s founder and others with violating piracy laws.
Earlier today, we reported confirmation from Swizz Beatz’s publicist that the recording artist is indeed Megaupload’s current CEO, but he did not found the company, which was started out of Hong Kong in 2005. Kim Schmitz, a German entrepreneur and hacker, is the company’s founder.
Read more: betabeat.com