Ex-Cambridge Analytica CEO Tells Lawmakers He Lied on Video

Former Cambridge Analytica Chief Executive Officer Alexander Nix said reports that he withdrew $8 million from his now-defunct company are untrue, and that he lied to an undercover journalist because he believed it was what "the client wanted to hear."

He told a committee of British lawmakers investigating the impact of social media on recent elections Wednesday that he now has "no involvement" in Cambridge Analytica, which is moving through bankruptcy proceedings in the U.S., or associated companies that are under management of a court appointed administrator in the U.K.