|AEPI, a well-known Greek anti-piracy and royalties group, has found itself in a deep crisis after the government-sponsored investigation found irregularities in its accounts. Ernst & Young discovered AEPI didn’t pay over 42m euros owed to content creators, while not forgetting to pay themselves – for example, its CEO alone earned 52,000 euros per month.
The Greek Society for the Protection of Intellectual Property (AEPI) has repeatedly urged pirate websites to shut down for abusing the rights of content creators. Now the AEPI itself is urged to shut down for exactly the same thing: after the Greece’s Ministry of Culture commissioned an Ernst & Young audit in 2015, the outfit found itself in trouble. Major financial irregularities have been discovered at the outfit, after which the AEPI long refused to provide the necessary documentation – until it was fined.
The auditors’ report reveals a capital deficit of around 20 million euros. As such, the anti-piracy and royalties group cannot meet its obligations, with operating expenses certainly outstretching its income. But at the same time, 4 company’s shareholders pocketed almost 5m euros between them. For example, the CEO of the group alone received more than 52,000 euros per month. One can’t say the same about the artists the group claims to represent: the audit showed that AEPI’s IT system could not even produce a report to compare royalties collected and paid out. The outfit has to recognize that the undistributed royalties to members amounted to 42.5m euros.
The police raided AEPI’s offices after the launch of an investigation. It is expected that AEPI would face lots of allegations, including over the fact that it provided illegal loans to board members.
Thanks to TorrentFreak for providing the source of the article. Posted by:
Sunday, March 19th, 2017
|In the real world it is called theft by deception and embezzlement.|
If one were to repeat the same audit procedures, to all the organizations world wide tasked to distributing recording artists royalties. This should include all RIAA members too!
I would not be unsurprised in the least! This form of theft by deception and embezzlement of royalties paid to recording artists and composers. In the real world, this form of theft, is in fact all to common and done on a daily basis.
A cynic, would say this form of theft by deception and embezzlement. in fact, actually dates back to the day, of the very first mass production of recorded sheet music.
This in turn, explains why the RIAA members are always pointing the propaganda finger in the wrong direction. That way, it is easy to hide the inconvenient truth of theft by deception and embezzlement.
|Its easy for them to be all indignant and blame the "pirates".|
It takes one to hate one.
|posted by (2017-03-20 08:37:55)|
|And to think people started making art for others to just enjoy it.|
Then we got capitalism...
|posted by (2017-03-20 12:58:05)|
|Let us all not forget that government mass surveillance programs are in violation of copyright laws also. They ingest everything by default. I wonder what THEY do with all that content.|
|I'm not surprised at all.|
This is why you should always ignore copyright notices.
They are most likely a scam to separate you from your hard earned cash.
Or get a VPN and a seed box, then you won't get any notices.
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