The former chief executive of Cambridge Analytica Alexander Nix was accused on Wednesday of taking $8 million from the company ahead of its collapse.
Investors backing a rebrand of the data consultancy firm are currently in a stand-off with Nix while trying to persuade him to return the money, according to the Financial Times.
Nix reportedly took the money shortly after British journalists began reporting on the company's involvement in the mishandling of Facebook users' personal data -- a scandal that resulted in Cambridge Analyticaat the beginning of May.
Nix did not respond to request for comment.
Nix denied that he had taken the money during an evidence session in the UK's Parliament on Wednesday afternoon local time. "The allegation made in that article is false, the facts in that article are not correct," he said.
First published June 6 at 3:12 a.m. PT.
Update, 8:17 a.m./ PT: Adds statement made in Parliament by Alexander Nix.