Cambridge Analytica Boss 'Borrowed' $8 Million Before It Collapsed, FT Reports

Shortly after former Cambridge Analytics CEO Alexander Nix learned British media was reporting on allegations about his firm's role in the leak of Facebook data, he allegedly withdrew $8 million from the company... and investors are not happy.

In a lengthy and detailed story in The Financial Times, Nix is accused of making off with the funds right before the firm collapsed into liquidation; and the investors who had backed a potential rebranding of the firm are pressing Nix to repay the money.

The investors said Emerdata, a company set up last year to acquire and rebrand Cambridge Analytica and a related company, SCL Group, had raised $19m from powerful international investors in January to expand the company’s services and bid for more commercial work.

The money ran out quickly, the people said, because of outstanding bills to advertisers and other suppliers, and because of the alleged withdrawal by Mr Nix. According to some of the people, Mr Nix has indicated that he intends to repay part of the money. One person added that Mr Nix said the withdrawal was made in exchange for unbooked services.

Bankruptcy filings in New York show that Cambridge Analytica received an $8.8m loan from Emerdata before it entered administration, though it is not clear what the loan was intended for.

Documents show the debt is classified as an unsecured “non-priority” loan that might not have to be returned.

But the story gets even more intriguing when one finds out who the 'investors' in the apparent rebranding of Cambridge Analytica's "data-science-as-a-service" business model...

Company filings in the UK show Emerdata earlier this year issued nearly 2m shares and added several new directors to its board including Rebekah and Jennifer Mercer, the daughters of hedge fund billionaire and prominent Trump supporter Robert Mercer.

As a reminder, the prominent conservative billionaire investor, Trump campaign supporter and patron of Steve Bannon, Robert Mercer, stepped down as co-chief executive and board member of the world's most profitable and secretive hedge fund, Renaissance Technologies, on January 1, 2018.

Additionally, Johnson Ko, executive director of Reorient Group, was also added as a director of Emerdata in January. Mr Ko is a business partner of Erik Prince, another Trump associate and the founder of private mercenary group Blackwater, at the security firm Frontier Services Group.

And judging by the second half of The Financial Times' story, Cambridge Analytica was planning a full resurrection as documents seen by the FT confirm that a holding company was established to acquire Cambridge Analytica and SCL Group, which had previously focused on defense (which explains Erik Prince's influence) and political work (which explains the Mercer's interest), including Donald Trump’s presidential campaign. These documents and a private placing memorandum set out plans to raise about $30m to pitch for more commercially-related work and develop a “high-volume core business” with off-the-shelf data-targeting products.

“Governments have access to vast quantities of data; on both their own citizens and foreign nationals. These data can be used to help governments identify, segment and target key audiences for campaigns of information or influence.”

Cambridge Analytica also formed a working group of senior ex-military personnel and government executives to identify products and services most relevant to government clients, according to the documents.

We suspect this is very much not the last we hear of Cambridge Analytica's 'business model' though getting on the wrong side of the Mercers and Erik Prince may mean that this is the last we hear from Mr. Nix.

Comments

Pandelis BaBaBouy Tue, 06/05/2018 - 23:05 Permalink

just stick it into the losses Emerdata ... most probably the "investors" beyond the scenes are Soros, Adelman types ... surely, they can afford losing a few millions ... good for this guy stealing from the thieves... after all he got them the elections they wanted.

In reply to by BaBaBouy

PrayingMantis Pandelis Tue, 06/05/2018 - 23:19 Permalink

 

    ... 8M is hush money 💰 to keep his mouth tightly shut ...

 

...................

 

... meanwhile, OT, ... has anyone heard anything about this ?

        .... “ ... 

Bipartisan, Bicameral Anti-Semitism Awareness Act Introduced

Washington, May 23, 2018

Today, U.S. Representatives Peter J. Roskam (R-IL), Ted Deutch (D-FL), Doug Collins (R-GA), and Jerrold Nadler (D-NY) and U.S. Senators Tim Scott (R-SC) and Bob Casey (D-PA) introduced bipartisan legislation to combat the rising tide of anti-Semitism in schools and on college campuses across the nation. The "Anti-Semitism Awareness Act" directs the Department of Education (DOE) to use a widely-accepted definition of anti-Semitism when determining if incidents of harassment or discrimination that are potentially in violation of U.S. anti-discrimination law were motivated by anti-Semitism.   ... “ ... 

    .... >>> https://teddeutch.house.gov/news/documentsingle.aspx?DocumentID=399345 ... 

 

   ... whiskey ... tango ... foxtrot ... 

 

In reply to by Pandelis

SACRED-COW JSBach1 Tue, 06/05/2018 - 23:46 Permalink

We don't need no stinkin' politicians.

They are superfluous in the age of the silicon chip.

They know it.  We know it.  Why the hell are they still here?

There will be no revolution ever again. 

Your owners are locked and loaded and unbeatable.

They have acquired the most sophisticated weaponry in the history of mankind.

And if you step out of line, you will be immediately reprocessed.

Trump, Obama and all of the past, present and future bag men are working for the Rothschild oil, gas and banking cartel.

 

https://www.youtube.com/watch?v=gjvSS3_EhhI&app=desktop

In reply to by JSBach1

Chupacabra-322 PrayingMantis Tue, 06/05/2018 - 23:47 Permalink

 

@ Praying,

One bright aspect is the Anti-Isreal / Jew Zionist movement is gaining steam.  More & more Individuals are speaking openly against Israel’s War Crimes, False Flag involvements, The Yinon Plan along with Pro Zionist immigrantion policy of migrating Muslim’s &  Arabs to the EU & US without fear of retribution.  Pro migration policy which supports territory boarder expansion via the Yinon Plan & ethnic cleansing & migration of Arabs & Muslim’s. 

Not to mention the Billions in US foreign aid, AIPAC, ZioNeoConFascist NGO’s & dual Israeli Citizen’s which hold Political Office in CONgress.  Which must be outlawed.  

 

That said. the Pure Evil Santanic Lucerferian’s are already attempting & countering by passing “Laws” in the US & Zionist Israel persecuting those who speak of their Crimes or are Anti Isreal.  

 

This position has been brought under the spotlight by the news that the municipality of Dickinson, in Texas, demanded that people agree to not boycott Israel as a pre-condition to qualify for relief funds after hurricane Harvey. This is not an independent action taken by Dickinson, however, but merely an initiative to comply with a Texas state law, which came into effect on Sept. 1, and requires companies and individuals taking on state contracts and disposing of public funds to sign an affidavit in which they declare not to participate in boycott campaigns against Israel.

 

https://qz.com/1111720/the-us-government-is-willing-to-defend-hate-spee

 

And, just posted here last week on ZH.

 

https://www.zerohedge.com/news/2018-05-26/proposed-israeli-law-criminal

 

In reply to by PrayingMantis

SoDamnMad PrayingMantis Wed, 06/06/2018 - 04:39 Permalink

This is similar to what Germany, Austria and Italy have on their books  (others I don't know about) that makes any questioning of aspects of the Holocaust an offense requiring the arrest, prosecution and punishment of individuals.

Israel has said that whatever history records they craft are correct and that questioning them is anti-semitic.  If you say there does not appear to be the use of cyanide in a facility because of the absence of Prussian Blue, you are wrong because they said it was used. If you say the small crematoriums could not have processed thousands of bodies a week because of the mathematics, you are wrong because they said they could.  If corrections have appeared on plaques over the years at the restored camps reducing the numbers of the dead and you question totals, you are wrong because the number, 6 million is what they say.  Yes, the war was horrible. The US was insulated from the carnage by the expanse of ocean between us and Europe. Yes, somewhere around 20 million Russians died in the war.

BUT foremost this law is to stick that number of 6 million in your face so that guilt is forever.

In reply to by PrayingMantis

PrayingMantis SoDamnMad Wed, 06/06/2018 - 07:39 Permalink

 

    ... and guys, talk about the holohoax, the politicians in (((their))) pockets are also ramming this ... (albeit, quietly) ...

 

    ...   “ ... A new law now makes teaching about the Holocaust and other genocides mandatory in Connecticut schools ... “

     ... “ ... Governor Signs Legislation to Require Holocaust Education ... “ ...

   ... >>> ... https://www.nbcconnecticut.com/news/local/Governor-Signs-Legislation-to-Require-Holocaust-Education-482290401.html ...

 

... holohoax cartoon ... >>> https://www.curezone.org/upload/Members/new03/Holocaust_Cartoon.jpg ... 

 

 

In reply to by SoDamnMad

rbsx Tue, 06/05/2018 - 23:01 Permalink

GG. Go straight to jail. Do not pass go. Do not collect $200. 

 

Lol, this guy is about to go down in flames (or up in flames).

Number 9 Tue, 06/05/2018 - 23:02 Permalink

We suspect this is very much not the last we hear of Cambridge Analytica's 'business model' though getting on the wrong side of the Mercers and Erik Prince may mean that this is the last we hear from Mr. Nix.

eeeekkk

glad i am not this dude..

he looks a bit freaked in the pic with the henchmen helping him along..

the dude on his left is measuring him for the cement boots..

HRH of Aquitaine 2.0 Number 9 Tue, 06/05/2018 - 23:09 Permalink

I am just too fucking honest and straight. I couldn't do 1/1000th of what these fucks do without shooting myself in the head because of a guilty conscience!

I get that people tell lies to spare other people's feelings. But this isn't even close to that. This is plain out-and-out theft and scamming on a massive scale. They do have balls, I have to give them credit for that.

In reply to by Number 9