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    Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy

    This is a discussion on Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy within the P2P / File sharing forums, part of the General chat category; Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy | TorrentFreak SMAIS, the Icelandic branch of the Motion Picture Association, has ...

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      Scubbie is offline Sky User Moderator
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      Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy

      Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy | TorrentFreak
      SMAIS, the Icelandic branch of the Motion Picture Association, has filed for bankruptcy. The board of the notorious anti-piracy group says that it suffered from mismanagement. In addition to tax fraud and falsified financial records, the group's CEO has admitted to embezzlement.

      Anti-piracy groups are often quick to label file-sharing sites as criminal organizations, but these outfits also have some rotten apples amongst their own. A few months ago we reported on the President of the Lithuanian Anti-Piracy Association LANVA, who was jailed for two years for drug trafficking. The boss of Icelandís anti-piracy group SMAIS is not doing much better, it seems, as he stands accused of fraud and embezzlement.

      SMAIS
      is a local branch of Hollywoodís Motion Picture Association. The group recently failed to get The Pirate Bay blocked in Iceland, and has now run into the law itself.

      The organizationís board filed for bankruptcy after it discovered a wide range of serious problems. The groupís financial statements were falsified, the books were not in order, and taxes havenít been paid since 2007.

      Making matters even worse, the board says that its CEO SnśbjŲrn SteingrŪmsson has admitted to embezzlement. This case is now under review by the Special Prosecutor, who has to decide whether a criminal investigation will be launched against the anti-piracy chief.

      The last time SMAIS made international headlines was last year, when the group pulled its Facebook page offline after four days. According to SteingrŪmsson, SMAIS didnít have enough resources to handle the constant flaming comments from the public.

      What certainly didnít help was that the launch of the Facebook page coincided with the news that SMAIS never paid for the film and game rating software they purchased from a Dutch company back in 2007. Considering the position the group is in now this is hardly a surprise.

      Whether Hollywood has plans to install a new anti-piracy group in Iceland if the bankruptcy goes through is currently unknown.
      bubblegun and gymno like this.

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      fluke (22-08-14)


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      Re: Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy

      Bwahahahahahahaha


      ==========
      Regards
      Dave

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      Re: Fraud and Embezzlement Drives Anti-Piracy Group into Bankruptcy

      Quote Originally Posted by fluke View Post
      Bwahahahahahahaha
      Indeed.

      I take it they don't have a group like FAST in Iceland?

      Imagine FAST suing FACT in the UK. LOL.

     

     

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