Home / Business / Former vice president of Netflix has been found guilty of money laundering fraud.

Former vice president of Netflix has been found guilty of money laundering fraud.

A federal jury found a former Netflix executive guilty on Friday of acquiring profitable stock options and more than half a million dollars in bribes and kickbacks from technology companies to approve a contract with the streaming giant. cherished possession

Michael Kail, 49, is the former Netflix vice president in charge of the company’s internet technology division.

“We are very disappointed in the jury̵

7;s verdict,” said defense attorney Julia Jayne. “It shows that innocent people can be convicted when there are so many counts that overlap them, and powerful companies like Netflix are driving investigations and prosecutions.”

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Jayne said Kail helped drive Netflix’s success as a cutting-edge technology company. He intends to appeal, she said.

Kail was indicted in 2018 on line 19 counts of fraud, three counts of mail fraud and seven counts of money laundering.He pleaded not guilty to that offense.

The trial began on April 19 in federal court in San Jose, California. The jury found him guilty of 28 of 29 counts.

Prosecutors accused Kail of accepting more than $ 500,000 of kickbacks, including valuable stock options, in exchange for approving millions of dollars in contracts for nine tech companies looking to do business with Netflix between February 2012 and July 2014.

Kail built and controlled limited liability company Unix Mercenary LLC to accept bribes, fund private expenses and buy homes in Los Gatos, California, prosecutors said.

Netflix bans its employees from having conflicts of interest and requires them to disclose actual or apparent conflicts of interest and report gifts from individuals or entities they want to sell to the company, officials said.Kail works at Netflix. From 2011 until July 2014

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He could face up to 20 years in prison sentences and fines and is likely sentenced in three months. He’s still free to bond in the meantime.

Netflix declined comment on the ruling.

“Mr. Kail has not only deprived Netflix money and resources by misusing the position of VP of IT operations,” FBI Special Agent Craig D. Fair said in a statement. “He created a pay-to-play environment by He stole the opportunity to work with industry pioneers from honest and hardworking Silicon Valley companies. ”

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