Former Netflix executive Michael Kail April 30 was found guilty by a federal jury on 29 counts of money laundering, fraud, bribery and illegal kickbacks during his employment at the SVOD pioneer between 2011 and 2014. The unanimous verdict following a one-week trial was handed down by 12 jurors in San Jose, Calif.
The 52-year-old Kail, who was VP of internet technology at Netflix from 2011 to 2014, was indicted in 2018 for allegedly accepting kickbacks valued at almost $700,000 ranging from stock options, cash and gifts from myriad technology companies doing business with Netflix. Kail justified the proceeds as commissions, which he then used for personal gains, including allegedly purchasing a house in Los Gatos, Calif.
Kail, who is free on bail, faces a possible sentence of 20 years and fines totaling more than $1 million, or twice the gross loss to Netflix. The streamer filed a separate civil lawsuit against Kail in 2014. That case was settled confidentially in 2015.
After leaving Netflix, Kail joined Yahoo as chief information officer, a position he vacated after the federal lawsuit filing. He then co-founded a cyber security firm in Boston called Cybric, where according to his LinkedIn profile he served as chief technology officer (CTO) from October 2015 to May 2018. The company is now known as ZeroNorth.
His most recent job, according to LinkedIn, was CTO of Everest, a San Diego-based company that describes itself as “a decentralized platform and protocol to build value exchanges between people and organizations. Based upon the blockchain and Ethereum smart-contract technology – Everest makes tools for institutions to deliver value to communities. Everest’s solution brings together a massively scaleable transaction platform, EverChain, with currency and document storage, EverWallet, and biometrically verified identities, EverID.”
His LinkedIn profile shows a departure date of May 2021.