From the AP:

UNION, N.J. — A northern New Jersey man is charged with stealing a prime piece of Internet real estate and reselling it for $111,000 in the first prosecution of a suspected domain name thief in state history.

Authorities say Daniel Goncalves, 25, of Union, hacked into an online account belonging to one of the owners of the P2P.com domain name. He allegedly shifted ownership to himself and resold the Web site address on eBay to professional basketball player Mark Madsen of the Los Angeles Clippers.

Goncalves faces felony charges of theft by unlawful taking or deception, identity theft, and computer theft. State police say each of the three counts carries a maximum sentence of 10 years. Goncalves, who did not respond to a reporter's phone calls, is free on a $60,000 bond.

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