Su Zhu, a founding member of the now-insolvent Three Arrows Capital, was apprehended in Singapore at Changi Airport on Friday, as per the agency’s liquidator, Teneo. Zhu obtained a four-month jail sentence for failing to cooperate within the chapter proceedings, Teneo revealed.
Crackdown at Changi Airport: 3AC’s Su Zhu Detained, Associate Kyle Davies Fugitive
Teneo, overseeing the liquidation of Three Arrows Capital, reported that co-founder Su Zhu was seized and sentenced to 4 months’ incarceration. His affiliate, Kyle Davies, stays at massive; nonetheless, Teneo confirmed he was given an equivalent penalty.
Zhu allegedly tried to flee Singapore when he was intercepted at Changi Airport, located roughly 25 miles east of Singapore’s Downtown Core. The Singapore courtroom decreed that Zhu and Davies had not been collaborating with the liquidation process – a difficulty beforehand reported by the media months previous to his apprehension.
The defunct Singapore-based cryptocurrency hedge fund as soon as supervised over $10 billion in property at its top. However, a confluence of perilous buying and selling techniques, Terra’s collapse, and plummeting cryptocurrency values obliterated the agency’s property. Consequently, 3AC declared chapter and was mandated to liquidate by a British Virgin Islands courtroom on June 27, 2022.
Squawk Box posted on X that Kyle Davies, the co-founder of Three Arrows Capital, was requested if he was in Bali as a result of Indonesia is one among seven international locations that won’t extradite him to the United States. While that interview was in November 2022, Davies is believed to be nonetheless in Bali.
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