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MegaUpload Dares RIAA To Sue Them 255

Posted by timothy
from the come-and-take-it dept.
Dangerous_Minds writes "Yesterday, there were reports that the RIAA and MPAA were working with Mastercard to cut off payments to so-called 'rogue-websites' like MegaUpload. Today, a spokesperson from MegaUpload issued a response to the RIAA on ZeroPaid. Bonnie Lam of MegaUpload said, 'the vast majority of our revenue is coming from advertising.' She also said, 'Megaupload is a legitimate business operating within the boundaries of the law. In five years of operation we have not been sued by a single content owner. If the RIAA or MPAA would have legal grounds they would have taken us to court by now. We suggest that they attack us within the legal system and stop labeling us until they have something to show.'"
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MegaUpload Dares RIAA To Sue Them

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  • by devxo (1963088) on Thursday December 23, 2010 @09:32PM (#34656854)
    For those that don't know the story behind the guy of MegaUpload, MegaUpload and other sites in the same family, it's definitely an interesting one.. In summer TorrentFreak made an article called The Mega-Money World Of MegaUpload [torrentfreak.com].

    The whole article is interesting read, but here are some interesting bits:

    Kim ‘Kimble’ Schmitz [wikipedia.org] is a quite unbelievable character. Born in 1974 in Germany, he grew to become a computer hacker, successful businessman and convicted criminal. In 1998 Schmitz received two years’ probation for hacking into corporate networks and abusing telephone services but the draw of big money was just around the corner.

    In 2001 Schmitz pulled off a huge stock market bluff which netted him a small fortune. After buying shares worth hundreds of thousands of dollars in the almost bankrupt LetsBuyIt.com, he announced that he would invest 50 million euros in the company, but in reality he didn’t have the money. His declaration led to the biggest single-day rise on the German stock market which allowed Schmitz to sell his shares and pocket $1.5 million profit. He was arrested for insider-trading in 2002, sentenced to a term of 20 months and given a 100,000 euro fine.

    Also in 2001, one of Schmitz’s companies loaned another one 280,000 euros and conveniently both went bust shortly after. Schmitz later pleaded guilty to embezzlement and received another two years probation.

    According to a recent report from New Zealand, Schmitz is currently under investigation for using multiple names to register three luxury cars including a Rolls-Royce Phantom convertible. The cars are adorned with personal plates – GOD, WANTED and GUILTY.

    The vehicles are registered to an address in Coatesville, New Zealand, which turns out to be a very special venue indeed – Schmitz’s newly-acquired mansion and the country’s most expensive house, a snip at just over $20 million USD.

    An investigative piece found Schmitz in Hong Kong business records with the new name "Kim Tim Jim Vestor", allegedly having a Finnish passport, acting as director of several "Mega-" companies, among them Megaupload Ltd. and Megarotic Ltd.

    As of 2008, Kim currently lives on the top floor of the Grand Hyatt in Hong Kong with his wife and child. He goes by an alias of “Kim Vestor.” http://www.gfy.com/showthread.php?p=15096149 [gfy.com]

  • Re:Wikileaks (Score:5, Informative)

    by FudRucker (866063) on Thursday December 23, 2010 @10:57PM (#34657318)
    all the constitution & bill of rights dont mean shit in the real world, all those two documents are used for is to brainwash grammar school children in to thinking the government institutions are actually benevolent, so they wont realize what a bunch of corrupted tyrannical criminals the government is until they are over 40 years old...
  • Re:Wikileaks (Score:5, Informative)

    by Jeeeb (1141117) on Friday December 24, 2010 @01:12AM (#34657850)

    You're assuming that they're being pressured by some political agency.

    Don't. They are the, single biggest financial organization in the world next to the Federal Reserve. Not even the World Bank is as big as MC.

    MC can look every single world leader directly in the eye, whip out their privates right in front of the cameras, and urinate directly into those eyes, one at a time, and nobody would DARE do or say anything. More than a few would swallow.

    They're doing this because they found a way to make it profitable.

    Mastercard: - Net assets: 7.47 Billion
    - Net income: 1.46 Billion
    - Criticism by world leaders:
    Sued for anti-trust by the EU in 2009 and forced to reduce its fees to 0.2% of purchase
    Criticised this year by members of the European Parliament for cutting of payments to Wikileaks.

    Federal Reserve:
    Total Assets: 2.34 Trillion
    Total Liabilities: 1.348 Trillion
    Net Equity: 56.78 Billion
    Also holds about 6.4 Trillion dollars worth off securities of the balance sheet.

    Mastercard is a piddly little company. I'd be surprised if it was even in the biggest 100 financial institutions in the world. Infact it's not even a money lender. It's just one of the large world-wide transaction processing networks. Although by no-means the largest or globally accepted.

  • by Anonymous Coward on Friday December 24, 2010 @07:38AM (#34659010)

    Have you seen most European jails? They aren't bad at all. Usually after a while you get a TV and maybe a game console in your room (and lots of other things if you want to order them), theres lots of activity every day, you can go on weekend holidays and the food is even better than what is offered to school kids. Lots of people don't like their tax money is used like that, but that's the way it is - being in jail in most of Europe is like taking a relaxing holiday.

    OK. Have you BEEN in a European jail? First of all, "Europe" is quite a large place, and a German jail is different from a Greek jail, but even German jails are not luxury hotels.

    "Lots of activity" just means you'll be required to work. "Food is better than what is offered to school kids" is rubbish, plain and simple. Your social contact is extremely limited, and what contact you do have is with other criminals, who - surprise surprise - aren't going to be angels, even if the wardens will generally take care to prevent rape, murder and the like (although it still happens). And what's most, well, you're going to be in prison - you're not going anywhere.

    On the other hand, your comment about "tax money" pretty much proves that you're an American talking out of his ass, since I've never in my life seen anyone here complain about tax money being used to fund prisons.

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