Sargon in $100m hole to Chinese lender

Liam Walsh and Jonathan Shapiro

Apr 3, 2020 – 3.51pm

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Sargon Capital tumbled into receivership owing almost $100 million to its main Chinese lender, according to a new report from administrators of the once high-profile financial technology outfit.

Melbourne-based Sargon, which had boasted board members including entrepreneur Phil Kingston, former senator Stephen Conroy and former Crown Resorts chairman Rob Rankin, had also been struggling with repayments to the lender, the report to creditors reveals.

Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane.

Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney.