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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.

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