Netflix BRIBERY & MONEY LAUNDERING – the real thing!!!
Netflix is at the centre of a BRIBERY & WIRE-MAIL FRAUD AND MONEY LAUNDERING STORY, and no, it's not a new show; it's at Netflix.
ON Friday, April 30, 2021, a federal jury convicted Michael Kail, the former Vice President of IT Operations at Netflix, of:
- Nineteen counts of WIRE FRAUD,
- Three counts of MAIL FRAUD, and
- Seven counts of MONEY LAUNDERING,
As Netflix's Vice President of IT Operations, Kail approved the contracts to purchase IT products and services from smaller outside vendor companies and authorized their payments. Kail accepted bribes in kickbacks from nine tech companies providing products or services to Netflix.
In exchange, Kail approved millions of dollars in contracts for goods and services for Netflix, in which he would retain up to 15% for himself.
Kail ultimately received over $500,000 and stock options from these outside companies.
He used his kickback payments to pay personal expenses and buy a home in Los Gatos, California, in the name of a family trust.
Netflix had sued Kail in 2014 over the alleged kickback scheme, claiming he hid the payments by having them paid to his consulting company Unix Mercenary LLC.
Kail faces a maximum sentence of twenty years in prison and a fine of $250,000, or twice his gross gain or twice the gross loss to Netflix, whichever is greater, for each count of a wire or mail fraud conviction, and ten years in prison and a fine of $250,000 for each count of a money laundering conviction