4th May 2021, Kathmandu
A former Netflix executive has been convicted of money laundering. From 2011 to 2014, Michael Kail was Netflix’s vice president of information technology operations. He was accused of money laundering and wire and postal fraud.
As per the verge report, he has been accepting bribes and other benefits from vendors doing business with the company, according to the US Department of Justice.
He continued to use his position at the company to withdraw cash and stock for himself.
Netflix sued Kail in 2014, claiming that he diverted vendor fees to his personal consulting firm.
According to the DOJ, Kail accepted more than $500,000 in bribes as well as stock options from nine tech companies that provide goods or services to Netflix.
Kail’s lawyer has denied the allegations and said that he intends to appeal.
