Ex-Netflix executive gets prison for accepting tech bribes

Ex-Netflix executive gets prison for accepting tech bribes

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San Jose: A former Netflix executive was sentenced to 2 1/2 years in federal prison on Tuesday for accepting bribes and kickbacks from a technology company to approve a lucrative contract with the streaming giant.

The US Attorney’s Office said in a statement that Michael Kail of Los Gatos, 52, was also ordered to confiscate US$700,000 and pay a US$50,000 fine.

“Bribery and kickbacks are serious crimes that stifle the competitive innovation culture in Silicon Valley,” Acting U.S. Attorney Stephanie M. Hinds said in a statement.

Kail is a former Netflix vice president responsible for overseeing the company’s Internet technology department. Prosecutors allege that Kail received more than $500,000 in rebates and valuable stock options in exchange for multi-million-dollar payments by nine technology companies seeking to do business with Netflix between February 2012 and July 2014. contract.

In April, Kail was convicted of 28 counts of fraud and money laundering.

The authorities stated that Netflix prohibits 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 seeking to sell to the company.

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