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Cambridge Analytica files for voluntary bankruptcy in US: court

AFP  |  New York 

British group filed for voluntary Chapter 7 in the Southern District of New York, court documents showed.

The firm, whose filed late Wednesday, announced early May that it would close and file for in Britain and the after failing to recover from the scandal.

The documents, seen by AFP, listed LLC's estimated assets in the range of USD 100,001 and USD 500,000, with estimated liabilities between USD 1 million and USD 10 million.

Earlier this month, the company - which worked on Donald Trump's 2016 presidential campaign - claimed its business had been ruined by "numerous unfounded accusations" which rendered operating the business "no longer viable."

The firm became embroiled in scandal in March when former analyst, 28-year-old Canadian Christopher Wylie, revealed it had used a personality app to hijack up to 87 million users' -- claims it denies.

"Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully... the siege of has driven away virtually all of the company's customers and suppliers," the company said in a statement upon announcing its closure.

Soon after the leak, was suspended after he was filmed by undercover reporters bragging about ways to win political campaigns, including through blackmail and honey traps.

Meanwhile, another whistleblower said Britons' personal may have been misused by a pro-Brexit campaign ahead of the 2016 referendum in which Britain voted to leave the

Wylie has also since told a panel on interference in the 2016 US election that CA had used Russian researchers and shared data with companies linked to

This week, Times reported the and the FBI are investigating CA -- although it was unclear if the probe was linked to Robert Mueller's into Trump campaign collusion with

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 18 2018. 16:50 IST
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