Cambridge Analytica CEO reportedly embezzled $8 million

If you thought the Cambridge Analytica saga was over with the company's shut down and filing for bankruptcy, you were definitely wrong. According to The Financial Times, the company's former CEO Alexander Nix has been accused of stealing $8 million dollars from Cambridge Analytica before its demise.

The theft reportedly occurred after journalists started digging into Cambridge Analytica and Facebook, but before the company shut down for good. Investors want to rebrand and relaunch the firm, but The Financial Times reports that Nix has refused to return the money.

Despite its shutdown, Cambridge Analytica is still facing investigations from the FBI and DOJ about its financial practices, as well as the firm's misuse of Facebook users' personal data. The UK is also looking into the firm; Nix is supposed to appear in front of Parliament for a second time today.

Via: CNET

Source: The Financial Times



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