Former Netflix executive Michael Kail April 30 has been found guilty by a federal jury on the 30th of April 2021 with counts of money laundering, fraud, bribery and illegal kickbacks during his employment at the SVOD pioneer between 2011 and 2014.
The unanimous verdict following a one-week trial was handed down by 12 jurors in San Jose, Calif.
The 52-year-old Kail, who was VP of internet technology at Netflix from 2011 to 2014, was indicted in 2018 for allegedly accepting kickbacks valued at almost $700,000 ranging from stock options, cash and gifts from myriad technology companies doing business with Netflix.
Kail justified the proceeds as commissions, which he then used for personal gains, including allegedly purchasing a house in Los Gatos, Calif.
Kail, who is free on bail, faces a possible sentence of 20 years and fines totaling more than $1 million, or twice the gross loss to Netflix. The streamer filed a separate civil lawsuit against Kail in 2014. That case was settled confidentially in 2015.
After leaving Netflix, Kail joined Yahoo as chief information officer, a position he vacated after the federal lawsuit filing. He then reportedly co-started a cyber security firm in Boston.