Former Sargon Capital founder and CEO Phillip Kingston has broken his silence on a cascade of extraordinary events that put into receivership the high-profile superannuation fintech a year ago following actions by one of its creditors a Chinese state-owned insurance company China Taiping (~A$100 million).
Sargon Capital had reportedly been attempting to float on the Australian sharemarket at a reported valuation of A$1 billion just before it had to appoint voluntary administrators Ernst & Young (EY) to several of its holding companies to defend itself from an attack by Taiping.
Mr Kingston primarily puts blame on commercial law firm Ashurst for conflicting appointments (Ashurst was acting for Sa…
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