Yesterday the Internet was shook after the Feds shut down file sharing site Megaupload for copyright violations and arrested several of it's employees. Hours before the shut down it was reported that the site was owned by Swizz Beatz.
WRONG...
From Fobres
Megaupload.com was shut down today after the U.S. Department of Justice indicted seven owners of the popular file-sharing site. But contrary to some of the rumors floating around online, superproducer Swizz Beatz was not among them–and does not own a stake in the company, according to documents filed by the D.O.J.
Swizz Beatz, whose real name is Kasseem Dean, was revealed as Megaupload’s chief executive shortly after the viral debut of a star-studded video he helped produce for the company. In the clip (see below), celebrities from Kanye West toFloyd Mayweather extol the website’s virtues, with will.i.am providing the hook. Universal Music Group, home to many of the artists involved in the production, was none too pleased–and sued Swizz and Mega (who are reportedly counter-suing).
But Swizz Beatz wasn’t among the seven Megaupload shareholders singled out by the U.S. Department of Justice; in fact, his name didn’t appear anywhere in the entire 72-page indictment. According to the document, ringleader Kim Dotcom owns 68% of Mega’s holding company, and six other investors–none of them celebrities–own smaller stakes adding up to 32%. If Swizz was given a piece of the company, it’s not on the books.
