Cambridge Analytica files for bankruptcy
The company at the centre one of the biggest data breach scandals of all time has filed for bankruptcy.
Cambridge Analytica closed for business in the US on Thursday night, filing a voluntary Chapter 7 bankruptcy in the Southern District of New York.
The filings note an estimated number of creditors between 1-49, estimated assets of $100,001 to $500,000 and estimated liabilities of $1,000,001 to $10 million, reports CNN News.
The company said that although it had “unwavering confidence that its employees have acted ethically and lawfully,” “the siege of media coverage” had driven away its customers and suppliers, reported Bloomberg.
“As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the Company into administration,” a statement from the company reads.
The scandal, which was brought to light by former Cambridge Analytica employee Chris Wylie and Leave campaigner Shahmir Sanni, saw the company manipulate users’ personal data to influence voting habits.
CEO of the organisation Alexander Nix was also filmed on camera boasting that the group had influenced elections in Africa and North America.
The UK government’s response to the scandal has been heavily criticised after Prime Minister Theresa May’s political aide outed Sanni in a government statement.
The day after Stephen Parkinson revealed news that he had been in a sexual relationship with Sanni, the whistleblower said that “he knew I wasn’t out to my mum.”
“It was f**king s**t. I came out to my mum the day before yesterday,” Sanni said in a panel at The Frontline Club before breaking down in tears.
He added, “I hate talking about it, because I get…” before briefly becoming too distraught to continue speaking.
Fighting back tears, Sanni continued: “He knew… he knew that I wasn’t out to my mum.”
On being outed, Sanni told The Guardian: “I’ve actually tried not to think about it. Because every time I do, it sends me into a spiral of anxiety and upset.”
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“I really wouldn’t want anyone else to go through this. It’s been a trauma, that’s all I can call it,” he added.
Now, Sanni has said that he will be taking legal action against the government.
He also told the publication that he currently has £60 in his bank account.
“I was asked on Friday what my advice would be to other potential whistleblowers, and I said, ‘Honestly. Don’t do it.’ I have been stripped of everything.”