Ex-Netflix executive convicted in bribery-kickback scheme

A former Netflix Inc. executive was convicted of taking kickbacks from vendors in exchange for approving millions of dollars in contracts for products and services, federal prosecutors said.

A jury on Friday found Michael Kail, a former vice president of information technology operations, guilty of wire and mail fraud and money laundering after a two-week trial, according to a statement issued by the U.S. Attorney’s office in San Francisco.

“Bribery undermines fair competition and innovation in any business arena, and particularly Silicon Valley’s highly competitive environment of cutting-edge innovation,” Acting U.S. Attorney Stephanie M. Hinds said in the statement.