SHAMED TECH STAR LOSES £1.5m FIGHT WITH CREDITOR

A SHAMED tech entrepreneur has lost a court battle to avoid repaying £1.5m to a former business partner.

Dan Wagner’s mobile shopping firm Powa Technologies collapsed last year following multi-million pound losses amid tales of wild partying and corporate excess.

Wagner, who once sent staff a picture of himself dressed as David Bowie character Ziggy Stardust ( pictured), borrowed the cash from former Powa director Ben White in 2015, as he battled to keep the company alive.

White demanded his money back after the firm went into administration, but Wagner, 54, sought a High Court order to avoid repayment.

He claimed White pushed for administrators to be appointed so he could buy valuable product Powatag, which was sold to a company jointly owned by White and Wellington Management, a leading creditor.

Wagner claimed Wellington conspired with White but the court found nothing to suggest this was true. Wagner has now been served with a bankruptcy petition and still owes the money to White.