Three Arrows Capital Co-Founder Apprehended at Changi Airport
Su Zhu, a founding member of the now-defunct Three Arrows Capital, was arrested at Changi Airport in Singapore. The liquidator of the firm, Teneo, revealed that Zhu received a four-month prison sentence for failing to cooperate in the bankruptcy proceedings. His associate, Kyle Davies, remains at large and is believed to be in Bali.
Zhu’s Attempted Escape and Lack of Cooperation
Zhu allegedly attempted to flee Singapore but was intercepted at Changi Airport. The Singapore court determined that both Zhu and Davies had not been cooperating with the liquidation process. This lack of cooperation had been previously reported by the media before Zhu’s arrest.
The Downfall of Three Arrows Capital
Three Arrows Capital, a cryptocurrency hedge fund based in Singapore, once managed over $10 billion in assets. However, a combination of risky trading strategies, the collapse of Terra, and declining cryptocurrency values led to the firm’s demise. As a result, Three Arrows Capital filed for bankruptcy and was ordered to liquidate by a court in the British Virgin Islands on June 27, 2022.
Kyle Davies’ Whereabouts
Kyle Davies, the co-founder of Three Arrows Capital, is currently still at large. In an interview in November 2022, Davies mentioned that he was in Bali because Indonesia is one of seven countries that will not extradite him to the United States. However, his exact location remains unknown.
Hot Take: Co-Founder Apprehended and Associate Still on the Run
Su Zhu, one of the co-founders of Three Arrows Capital, has been apprehended at Changi Airport in Singapore. He received a four-month prison sentence for failing to cooperate in the bankruptcy proceedings. Meanwhile, his associate Kyle Davies remains at large, with his whereabouts unknown. The downfall of Three Arrows Capital, once a prominent cryptocurrency hedge fund, was caused by risky trading tactics and market fluctuations. This incident highlights the legal consequences that can arise from non-cooperation during bankruptcy proceedings.
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