UK News Cambridge Analytica chief 'withdrew $8m' from embattled data firm shortly before its collapse - as he prepares to testify to MPs today over Facebook information-selling scandal

14:00  06 june  2018
14:00  06 june  2018 Source:   dailymail.co.uk

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Investors who backed a rebranding of Cambridge Analytica are in a stand-off with former chief executive Alexander Nix after he allegedly withdrew more than $ 8 m from the scandal -hit data company shortly before it collapsed .

to testify in Westminster and Washington as data commissioner seeks warrant to search data Information Commissioner told Facebook to 'back off' from CA HQ search Mr Zuckerberg asked to face MPs about data scandal at Cambridge Analytica

Alexander Nic has been recalled to face MPs today over evidence he gave them  in February and also faces new claims over $8million withdrawn from Cambridge Analytica as the Facebook crisis started © Provided by Associated Newspapers Limited Alexander Nic has been recalled to face MPs today over evidence he gave them in February and also faces new claims over $8million withdrawn from Cambridge Analytica as the Facebook crisis started The polo-loving boss of Cambridge Analytica has today been accused of withdrawing $8million from the firm before its collapse because of the Facebook data scandal. 

Alexander Nix is set to face MPs and may be asked about damaging new allegations about his handling of the crisis that engulfed the London-based company this year.

Mr Nix allegedly withdrew the cash just after the British media revealed Cambridge Analytica was selling data mined from millions of Facebook members.

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And it was before , of course, it became clear that the firm —partially owned by Trump mega-donor Robert Mercer and the place where former White House Chief Strategist Steve Bannon once served So in early 2017, the two set out to pull back the curtain on the data tactics of Cambridge Analytica .

Researcher at centre of Cambridge Analytica scandal warns THOUSANDS of apps are guilty of harvesting data as he claims Facebook has made him a scapegoat (and the firm was only selling 'magic' anyway).

The new allegations over a $8million loan came from disgruntled shareholders who say Mr Nix must repay the money to CA staff and investors.

a man standing in front of a building: Mr Nix (right) faced a worldwide media storm in March after he was secretly filmed appearing to suggest the firm use 'beautiful' Ukrainian sex workers to seduce politicians (pictured) © Provided by Associated Newspapers Limited Mr Nix (right) faced a worldwide media storm in March after he was secretly filmed appearing to suggest the firm use 'beautiful' Ukrainian sex workers to seduce politicians (pictured)

These critics, who have spoken to the Financial Times, say Mr Nix and other bosses set up a new company called Emerdata as part of a plan to rebrand CA and its parent company SCL whose reputations have been badly tarnished.

Emerdata raised $19million from investors around the world but the money ran out and insiders claim $8.2million was sent to CA in the form of a loan.

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The whistleblower who publicly revealed how Trump-affiliated data firm Cambridge Analytica used information mined from Facebook under false pretenses during the 2016 election cycle will give an interview to Democrats on the House Intelligence Committee as part of their investigation of Russian

Cambridge Analytica is the firm currently centre of a scandal over alleged misuse of Facebook users' personal data . First picked up on by the media in 2010, the Facebook founder's comments have now re-surfaced in the wake of a privacy row involving Facebook and Cambridge Analytica .

Bankruptcy documents filed in New York seen by the newspaper show that the cash is classed a 'non-priority' and may never have to be paid back.

The FT has reported that Nix has indicated he will pay back some of the money, said to diverted for unpaid services, but he is facing pressure to return it all. He has not yet responded to the allegations.

a group of people posing for the camera: Mr Nix, a polo loving millionaire (pictured centre), was suspended from the company and has not commented on allegations about the $8million loan © Provided by Associated Newspapers Limited Mr Nix, a polo loving millionaire (pictured centre), was suspended from the company and has not commented on allegations about the $8million loan

Mr Nix faced a worldwide media storm in March after he was secretly filmed appearing to suggest the firm use 'beautiful' Ukrainian sex workers to seduce politicians as part of its lucrative election work.

He was also recorded boasting about the firm's work during the Donald Trump presidential campaign, saying: 'We did all the research, all the data, all the analytics, all the targeting, we ran all the digital campaign, the television campaign and our data informed all the strategy.'

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Cambridge Analytica responds to Channel 4 accusations. Cambridge Analytica suspended CEO Alexander Nix on Tuesday. It ' s the latest development in a complicated story involving the embattled data analytics firm , a self-described whistleblower and misused Facebook (FB) data .

Facebook has been rocked by this week Cambridge Analytica data scandal . But Aleksandr Kogan, the researcher who originally collected the 50 million profiles, said he has been made into a scapegoat.

Nix said its data on voters wins elections and his company made huge sums working with politicians around the globe.

There were calls for Facebook founder Mark Zuckerberg to resign and he saw £5.3billion wiped off his £48billion personal fortune yesterday due to a plunge in the social media company's share price.

a man wearing a suit and tie: Mr Nix has been summoned to Parliament © Provided by Associated Newspapers Limited Mr Nix has been summoned to Parliament "clarify his original evidence" after he declined to turn up in April

Since then Zuckerberg has been forced to apologise and try to rebuild trust with users about the safety of their data.       

Alexander Nix is at Parliament today and has been recalled to give evidence to an inquiry into fake news. The businessman first appeared before the Digital, Culture, Media and Sport (DCMS) Committee in February.

Weeks later CA was suspended by Facebook amid allegations it amassed data on millions of voters from their profiles and misused it.

Among the allegations were claims the information was used to target voters during Donald Trump's 2016 presidential election campaign, while a whistleblower has claimed the firm had links to pro-Brexit campaigners.

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Cambridge Analytica are the little known but very powerful data company who are being credited with giving him a chance against Trump where the rest of the field as failed, and have just “Campaigns look at this information at the metadata level, making large scale aggregate decisions,” he said.

Alongside social media giant Facebook , Cambridge Analytica is at the center of an ongoing dispute over the alleged harvesting and use of personal data . Both companies deny any wrongdoing. Britain's Channel 4 News on Monday filmed senior executives at Cambridge Analytica , including its CEO

a person standing in front of a crowd: Mark Zuckerberg's fortune and reputation have been badly damaged by the scandal, pictured facing Congress where he issued a humbling apology © Provided by Associated Newspapers Limited Mark Zuckerberg's fortune and reputation have been badly damaged by the scandal, pictured facing Congress where he issued a humbling apology

On Monday, the head of Britain's data watchdog said she was 'deeply concerned' about the impact on democracy of the misuse of social media users' personal information.

The committee first recalled Mr Nix to appear before them on April 18 to 'clarify his original evidence'. After agreeing to attend he then declined, but he was issued with a formal summons by MPs.

The scandal that erupted around CA's alleged misuse of Facebook data saw the social media giant's chief executive, Mark Zuckerberg, issue a series of public apologies.

The billionaire went before the US Congress and has been asked to appear before the DCMS committee.

Chairman Damian Collins wrote to Facebook on May 1 after Mike Schroepfer, the network's chief technology officer, spoke to the committee.

Mr Collins said his evidence 'lacked many of the important details we need' and re-stated Mr Zuckerberg's invitation.

'It is worth noting that, while Mr Zuckerberg does not normally come under the jurisdiction of the UK Parliament, he will do so the next time he enters the country,' Mr Collins wrote.

'We hope that he will respond positively to our request, but if not the committee will resolve to issue a formal summons for him to appear when he is next in the UK.'

Information Commissioner Elizabeth Denham told the European Parliament's inquiry into the CA affair that legal systems had failed to keep up with the rapid and unforeseen development of the internet.

Ms Denham said that her office's investigation, triggered by allegations of misuse of Facebook users' personal data, was 'unprecedented in its scale' and thought to be the largest undertaken by any data protection authority in the world.

Apple won't let developers pull info about your contacts anymore .
Developers can no longer create databases with information from iPhone users' contacts. They also can't share such a database with a third party, or sell it.In the past, some developers asked users for access to their phone contacts and used the information for marketing. They may also have shared or sold the data, without permission from the people on the contact list. But the new App Store Review Guidelines prohibit developers from making databases with information taken from iPhone owners' contacts, and restrict them from sharing such a database with third parties, or selling it.

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