The Co-Founder of Three Arrows Capital Apprehended at Singapore Airport
The co-founder of Three Arrows Capital, Su Zhu, was arrested at an airport in Singapore while attempting to leave the country. The failed crypto hedge fund’s liquidator, Teneo, revealed that they had obtained a committal order against Su after he failed to comply with a court order to cooperate with the investigation into the liquidation. As a result, Su has been sentenced to four months in prison. Teneo stated that this action was taken because Su deliberately refused to account for his activities as one of the founders of Three Arrows Capital.
Similar Order Issued for Other Co-Founder
A similar committal order has been issued for the fund’s other co-founder, Kyle Davies. However, Davies has not been apprehended as his whereabouts are currently unknown.
Ban from Regulated Business Activities
The Monetary Authority of Singapore recently banned both Su and Davies from participating in regulated business activities in the country.
Troubles for Three Arrows Capital
Three Arrows Capital, which was once one of the largest hedge funds in the crypto market, faced difficulties following the collapse of the Terra ecosystem last year. The fund filed for bankruptcy in July 2022 and owed over $3.5 billion to its top creditors.
Hot Take: Co-Founder of Three Arrows Capital Apprehended at Airport in Singapore
The co-founder of Three Arrows Capital, Su Zhu, has been apprehended at an airport in Singapore while trying to leave the country. This comes after he failed to comply with a court order to cooperate with the liquidators’ investigation into the failed crypto hedge fund. Along with his co-founder Kyle Davies, Su has been banned from participating in regulated business activities in Singapore. This incident highlights the challenges faced by Three Arrows Capital, once a major player in the crypto market, following the collapse of the Terra ecosystem. The fund’s bankruptcy and significant debt further underscore the troubles it has encountered.
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