Sargon’s Kingston bankrupted over $154m China financier debt
Liam Walsh and Max Mason
Key Points
- Phillip Kingston was a founder of tech ventures including Sargon.
- He was bankrupted on Thursday over a $154m debt to a Chinese financier.
- Kingston has maintained Chinese ventures engineered Sargon’s receivership.
Phillip Kingston, a Gen Y entrepreneur who led a string of Australian fintech companies including crashed superannuation venture Sargon, has been bankrupted over a $154 million debt to a Chinese financier.
The bankruptcy was declared on Thursday in the Federal Court in Sydney, with Mr Kingston not appearing after his name was called out for the matter.
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