Cambridge Analytica former CEO Alexander Nix has been accused of embezzling $8 million after the company’s shut down since its filing for bankruptcy.
The ex-chief has denied misleading British lawmakers but said the firm did receive data from a researcher during Facebook, Inc. (NASDAQ: FB) current data sharing scandal. He denied haven been given data by Aleksandr Kogan, the researcher accused, but later told the consultancy the company was given data but has been deleted on Wednesday. Kogan told lawmakers he did give the company data. Kogan created an app on the Facebook downloaded by 270000 people providing several sources of personal data. Around 87 million users allegedly obtained improperly.
Facebook said Kogan violated the policies by passing the data to Cambridge Analytica. Although data was given, Nix said it was useless to the company. Lawmakers quizzed Nix about a secret recording of him linking Cambridge Analytica’s online campaign to playing a decisive role in president Trump’s election victory on Channel 4 news station in March. Nix later apologized for the comments and claimed to exaggerate to attract a possible client.
According to The Financial Times, the report of the theft happened after journalists looked into Cambridge Analytica before it shut down. The FBI, DOJ and the UK are still looking into its financial practices and Facebook data sharing.