‘Capital raising is dead’: Failed fintech Sargon has its finances put under microscope

Failed fintech Sargon had its finances put under microscope last week as liquidators Joseph Hayes and Andrew McCabe of Wexted Advisors questioned witnesses about the company’s finances, including allegations of potentially trading while insolvent. Founder Phillip Kingston was bankrupted in December over a $154 million debt to financier China Insurance Group Finance Company, a lending arm of state-backed China Taiping.

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