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Former Netflix CEO convicted of money laundering

A former Netflix CEO has been convicted of taking bribes and kickbacks from vendors doing business with the company, according to the US Department of Justice.

Michael Kyle, who was Netflix’s vice president of information technology operations from 2011 to 2014, was found guilty by a jury of money laundering and wire and mail fraud. According to DOJ, Kyle uses his position in the company to “unlock the flow of money and roll back shares” for himself

Netflix sued Kail in 2014, alleging that he withheld payments from providers by directing them to his personal consulting company. According to the DOJ, Kail has accepted bribes totaling more than $ 500,000, as well as stock options from nine technology companies that have provided products or services to Netflix.


7;s lawyer Julia Mezhinsky Jane said in a statement by email On the edge that they were disappointed by the verdict, which she called “inexplicable and manifestly unsupported by actual evidence and law.” They plan to appeal. Jane said Kail was “a huge advantage for Netflix and helped them succeed as a cutting-edge technology company.”

Netflix did not immediately respond to a request for comment on Saturday.

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