Jul 15, 2018

Administrators offered £1 for Cambridge Analytica affiliate

Administrators for SCL Elections, an affiliate of scandal-ridden data firm Cambridge Analytica, attempted to sell the company but only received four proposals, including an offer for £1, according to a corporate filing on Saturday. Cambridge Analytica, SCL Elections and several other related companies in May began Chapter 7 bankruptcy proceedings in the US and filed for insolvency in the UK after the fallout from revelations about Cambridge Analytica's role in a massive leak of Facebook data. In March, the UK data watchdog raided the offices of SCL and Cambridge Analytica in London and seized computers which contained financial information, making it difficult for administrators to ascertain the company's financial position, according to the filing. The filings do not reveal any information about the company's profits in 2016, the year it provided services for the Trump campaign, though they show the company had assets of £2.4m. SCL Elections received £24.2m in income from Cambridge Analytica in 2016, according to its annual report filed at Companies House. Several Cambridge Analytica staffers have since joined a newly established company, Auspex International, which is looking to use similar data analysis techniques in the Middle East and Africa.

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