Site Employees, Founder Indicted For Piracy
4:30PM ET January 19th, 2012
Contributor : Hip Hop Blog Staff

File sharing/storage site Megaupload has been shut down. Only hours after superproducer Swizz Beatz was revealed to be CEO of the popular site, federal prosecutors shut it down and issued indictments to Megaupload's employees.

Site founder Kim Dotcom and others have been charged with violating piracy laws. The indictments claim that the site has cost "copyright holders more than $500 million in lost revenue from pirated films and other content."

Swizz and Megaupload have been embroiled in a lawsuit with Universal Music Group. The site was the 13th most trafficked site online.