What is monsoon multimedia
The monsoon multimedia is a company that sells educational and entertainment products to children and adults. These are keychain flashdrives that can be customized with 4-8 of your child’s favorite icons such as the Joker, Batman, Superman, Ironman, Spiderman, The Flash, etc. It also has a line of GPS tracking devices for parents to monitor their children in real time from any of their online accounts like Facebook or Google. The GPS is also not just for tracking but used in other products such as the family finder, family locator, and the friend finder. There is also the wide variety of toys and books to keep your child occupied.
The company was founded in 1999, as a part of a larger concern to make flash drives in bulk then sell them at very low prices. They met with a great success selling all their stock off while at the same time, being able to produce them cheaper than any other competitor. With this success, they opened more customer friendly stores, like the one on Henrico Road where they sell it at local grocery stores and specialty boutiques around the Richmond area. They also have stores in Pittsburgh and Mobile Alabama.
How did they go out of business
Yang Liu, a chinese entrepreneur who was in the process of purchasing the firm, went out of business after he was arrested on child pornography charges. This resulted in huge financial losses for the company leaving it with no choice but to seek bankruptcy. This was also the main reason for shutting down its website and discontinuing sales of any products after the arrest. In California, it is a crime for any person to possess child pornography.
Mr. Yang was arrested on charges of possessing child pornography in his home, where investigators found several discs in various stages of production with explicit images and videos showing children engaging in explicit sexual activities. He was also accused of offering to trade the movies for another disc containing child pornography on the internet, according to authorities. While Mr. Yang pleaded not guilty, he was arrested and charged in December and has been in custody ever since.
Mr. Yang’s arrest came just before a U.S. Court on Tuesday night granted the motion of the Federal Bureau of Investigations (FBI), which is the primary agency that conducted the raid on Mr. Yang’s home, to seize all computer equipment from him and his family’s other home as well as computers from their business premises for investigations.
The U.S Department of Justice says that Mr. Yang will remain in jail for the duration of the investigation. The FBI is expected to complete its investigations within two weeks, after which Mr. Yang will be arraigned.