Jan 20 2012 ↓Jump To Discussion
| Follow > Australia > World News copyright laws -DataProtect -downloading music -FBI -Kim Schmitz -LetsBuyIt -MegaUpload seized -MegaUpload.com -piracy |
AUCKLAND – Just one day after Megaupload.com was seized and shutdown by the FBI, the Federal Agency stated that its founder German hacker Kim Schmitz (37), possibly earned as much as 100 million dollars from the website illegally over the past 10 years.
Megaupload.com was popular for down- and up-loading music, films, games and other digital products. Schmitz made his money by enticing visitors to upgrade from the standard free to a paid membership, stating that paying members would receive faster speeds and more storage capacity.
Kim Schmitz, founder of MegaUpload.com has been indicted for allegedly violating anti-piracy laws. Courtesy: REUTERS
The PR line worked because Schmitz lived like a king in New Zealand. He owned the most expensive home in that country, valued at 36 million dollars. He also enjoyed an extensive collection of luxury rides, including a Lamborghini, a Maserati, a Rolls Royce Phantom and 15 Mercedes Benz.
Additionally, Schmitz also owned a luxury yacht valued at 9.6 million dollars as well as a collection of art by artist Christian Colin.
The German native became rich at a young age, legally, when he sold his anti-hacking company DataProtect for several million dollars.
Shortly thereafter, Schmitz landed in German jail for “insider stock trading practices” with the company “Letsbuyit”.
Kim Schmitz was arrested together with Dutchman Bram van der Kolk, who allegedly was the technical brain behind MegaUpload.
If found guilty of violating copyright laws and piracy practices, Schmitz could spend at least the next 6 years behind bars.
Kim Schmitz who lived a life of luxury could spend at least the next six years behind bars if found guilty. Courtesy: REUTERS
The MegaUpload.com website currently displays an FBI warning, notifying surfers the site has been seized by government authorities and its owner(s) have been indicted.
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