Former Netflix exec Michael Kail convicted for Fraud and Money Laundering

[Y2kTheNewOldies]

A former executive for Los Gatos media-streaming giant Netflix was found guilty Friday of felony fraud and money laundering.

A jury found Michael Kail, vice-president of internet technology at Netflix from 2012 to 2014, guilty of more than two dozen counts for accepting cash, stock options and gifts from third-party vendors in exchange for contracts with the firm.

“He used his kickback payments to pay personal expenses and to buy a home in Los Gatos,” the U.S. Department of Justice said in a statement Friday that referred to “pay-to-play bribes.” The verdict means the house — valued at about $3 million by Zillow — will be forfeited to the federal government, the department said.

When Netflix co-founder and then-CEO Reed Hastings questioned Kail about conflicts of interest, Kail “falsely denied that he was receiving compensation from vendors,” according to an indictment filed three years ago in U.S. District Court in San Jose.

Netflix former exec found guilty of taking ‘pay-to-play’ bribes

Kail quit Netflix soon after he was questioned about conflicts of interest by company co-founder and then-CEO Reed Hastings, court heard

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