US Federal prosecutors closed down the site MegaUpload after a 2 year FBI investigation into the eastern video streaming company.

The US justice department filed charges against MegaUpload on January the 19th calling the file-sharing service "international organized criminal enterprise allegedly responsible for massive worldwide online piracy".

The founder of the company is currently being accused of facilitating millions of illegal downloads of films, music and other multimedia content. The Justice department went on to say that Kim Dotcom (MegaUpload Founder) and three other employees have been arrested on Thursday in New Zealand upon request of the US officals.

MegaUpload is a "digital locker" that allows users to store files that can then be streamed or downloaded by other users across the world. Its subsidary site MegaVideo became very popular for unauthorized downloads of copyrighted Movies and Television Shows. Users who uploaded said content were usually paid rather handsomely for their efforts and earned a cut of the advertisement profits (a vauge low rate commission basis).

The complaint is against the following: Dotcom, Dotcom's Executives, MegaUpload Ltd., Vestor Ltd. and the charges are for: