World

Ex-Netflix CEO jailed for accepting technology bribes

SAN JOSE, CALIF. – A former Netflix executive was sentenced on Tuesday to two and a half years in US federal prison for accepting bribes and kickbacks from tech companies to approve lucrative contracts with the giant. streaming online.

Michael Kail, 52, of Los Gatos was also ordered to forfeit $700,000 and pay a $50,000 fine, the US attorney’s office said in a statement.

Acting U.S. Attorney Stephanie M. Hinds said in the statement: “Bribery and return are heinous crimes that stifle Silicon Valley’s competitive innovation culture.

Kail is a former vice president of Netflix who oversaw the company’s internet technology division. Prosecutors allege that Kail accepted more than $500,000 in kickbacks — as well as valuable stock options — in exchange for approving multimillion-dollar contracts for nine emerging technology companies. sought to do business with Netflix from February 2012 to July 2014.

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

Netflix bans its employees from having conflicts of interest and requires them to disclose actual or apparent conflicts of interest and report gifts from people or organizations seeking to sell to the company, authorities said. .

.

Source link

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button