EDIT [20 Jan 2012, 10.40a]: Westlaw Insider has a nice look at the indictment and what it means. “The specific criminal charges in the indictment are two different counts of copyright infringement and three other related conspiracy charges: conspiracy to commit racketeering, to commit money laundering, and to commit copyright infringement.”
Note: I am not supporting internet piracy by any means. But the manner in which the feds simply pulled the plug and seized the assets of its alleged owners seems a bit dubious. Remember, it doesn’t necessarily follow that one supports an underlying alleged criminal enterprise simply because one supports due process rights.