The millionaire financier of scofflaw torrent site The Pirate Bay has filed for personal bankruptcy, The Register reports.
Carl Lundström, an heir to the Wasabröd crispbread fortune, was the most visible of the Pirate Bay four, and oversaw the internet sites' business operations, helping to funnel revenue overseas to avoid paying corporation tax, as well as providing hosting.
Lundström has served prison time for copyright infringement, unlike co-defendants Fredrik Neij and Gottfrid Svartholm Warg, who ‘did a Julian’ and became fugitives; Warg has since returned to Sweden after being arrested in Cambodia. However, Lundström still faces a SK32m fine. The bankruptcy filing, which he confirmed to Ny Teknik, may merely be a precautionary: Lundström had already transferred property to his wife, and he now lives in Switzerland, which means Swedish authorities cannot pursue him for financial penalties arising from civil cases.
The Pirate Bay made considerable profits from directing users to artistic material – but failed to pay the artists.
