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ExtraTorrent.cc > Articles > Spanish Royalties Outfit Raided By Police

Spanish Royalties Outfit Raided By Police

Spanish Royalties Outfit Raided By Police

Added: Wednesday, July 13th, 2011
Category: Bit Torrent Freedom > The Right To Share
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2010, www.extrattorrent.com
According to the reports, the Spanish anti-corruption police have raided the headquarters of the Spanish organization SGAE. Within the raid, the police seized computers, corporate laptops and other property on the premises. The allegations are that the company is engaged in embezzlement of royalties that intended for the performers.


According to the Spanish media, the head of the SGAE insists that no arrests have been made, but police did seal off the building to the public for the time of investigation, posting a couple of officers at the building’s entrance.

The raid began early in the morning, when police officers sealed the building to the public. At noon, they allowed company workers to leave the building. The Civil Guard has so far seized all corporate computers, along with company owned mobile phones, in the building. In addition, it issued instructions to the employees to hand over their company laptops.

The investigation is reported to be looking into how the outfit was raising money through copyright among the performers residing abroad. It turned out that those artists didn’t get their fair share of the royalties, and the allegations are that those involved were diverting the funds to personal accounts in Switzerland.

A complaint was filed in the High Court by the Anti-Corruption Prosecutor against the SGAE, where the outfit was alleged of misappropriation of money in their activities. Consequently, the opening of a preliminary investigation was requested by the department. The complaint itself was based on the appearance in different media of a number of “suspected illegalities committed in the economic management of the resources of the company.”

That’s not the first time when huge outfits related to the entertainment industry have been in legal hot water. Even the IFPI top management in Germany was accused of tax evasion just a few days ago. Within the last few years, the Canadian Recording Industry Association, Sony Corporation, French HADOPI, and even the MPAA were all sued for copyright infringement!

So, the most recent news will become just another story in a saga of entertainment industry outfits not having a picture perfect record with the law. In other words, this will be another black eye that the music and movie industries have to deal with for the time being

Thanks to TorrentFreak for providing the source of the article

July 13th,2011

Posted by: 

Date:  Wednesday, July 13th, 2011

Comments (3) (please add your comment »)

posted by ET junkieET loverTurtle (2011-07-13 20:30:07)
fusseltier avatarnormally you need to have legal residence in switzerland to open a bank account in switzerland.
bank laws have changed in the last several years and swiss bank accounts are not the safe and secret accounts they used to be.

posted by (2011-07-14 03:41:39)
No avatarI didn't have any trouble putting my ten bucks in the Swiss bank.!!!! lol

posted by Blocked (2011-07-15 13:55:27)
Crashman_123 avatarThese days the safest place to store money in foreign accounts is in Cayman Island banks. Swiss banking laws have eased in recent times, to the point of government regulation in many cases, and Swiss banking SECRECY is virtually non-existent these days. Whereas the Cayman Island banks have TIGHTENED their banking laws, making it almost impossible to trace money once it hits their shore. (Perhaps that's why all the Drug cartels, Mafia dons, and almost every OTHER major underworld figure, keep their money there.)

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