NEW YORK - British political consulting group Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court documents showed. British political consulting group Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court documents showedThe firm, whose attorney filed late Wednesday, announced early May that it would close and file for bankruptcy in Britain and the United States after failing to recover from the Facebook data scandal. The documents, seen by AFP, listed Cambridge Analytica LLC's estimated assets in the range of $100,001 and $500,000, with estimated liabilities between $1 million and $10 million. Soon after, CA chief executive Alexander Nix 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 data may have been misused by a pro-Brexit campaign ahead of the 2016 referendum in which Britain voted to leave the European Union.

Source: Bangkok Post May 18, 2018 08:26 UTC