Sargon liquidators dig into insolvent trading, auditor probe

An ex-senator, entrepreneurial wunderkind and PwC are among those under the spotlight.

Liam Walsh and Jonathan Shapiro

May 28, 2020 – 7.50pm

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Liquidators of Sargon Capital are probing a potential $3.6 million insolvent trading claim against the failed financial technology outfit’s directors, including entrepreneurial wunderkind Phil Kingston, former senator Stephen Conroy and former Crown Resorts chairman Rob Rankin.

The company’s auditors PwC also face scrutiny after Melbourne-based Sargon’s 2018 accounts failed to list a contingent liability for guaranteeing a $HK500 million ($82 million) loan.

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.