Former Netflix executive convicted for money laundering

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A previous Netflix chief was indicted for accepting hush money and payoffs from merchants working with the organization, as per the US Department of Justice.

Former Netflix executive convicted for money laundering

Michael Kail, who was Netflix’s VP of data innovation tasks from 2011 to 2014, was seen as blameworthy by a jury of illegal tax avoidance, and wire and mail extortion. As indicated by the DOJ, Kail utilized his situation at the organization to “open a surge of money and stock payoffs” for himself

Netflix sued Kail in 2014 guaranteeing he concealed installments from merchants by guiding them to his own counseling organization. As per the DOJ, Kail took kickbacks adding up to more than $500,000, just as investment opportunities from nine tech organizations that gave items or administrations to Netflix.

Kail’s attorney Julia Mezhinsky Jayne said in a statement emailed to The Verge that they were disappointed in the verdict, which she called “inexplicable and clearly unsupported by the actual evidence and the law.” They plan to appeal. Jayne said Kail was “a tremendous asset to Netflix and helped drive their success as a cutting-edge technology company.”

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