Sargon in $100m hole to Chinese lender

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.