Zhu Su, Co-founder of 3 AC, Apprehended at Singapore Changi Airport

Co-founder of Three Arrows Capital Arrested and Sentenced to Prison

Zhu Su, the co-founder of cryptocurrency hedge fund Three Arrows Capital (3AC), was arrested at Changi Airport in Singapore. He was attempting to leave the country when the arrest occurred. The arrest follows a committal order from the Singapore Courts, sentencing Zhu Su to four months in prison. Teneo, the joint liquidator of 3AC, confirmed the sentencing and has been actively involved in legal proceedings against Zhu Su.

Liquidators Seek Cooperation from Zhu Su

Teneo had previously obtained a committal order against Zhu Su on September 25 due to his failure to cooperate with the liquidators’ investigations. The court order required Zhu Su to account for his activities as a co-founder and former investment manager of 3AC. A similar committal order was also granted against Kyle Davies, the other co-founder of 3AC, but his whereabouts remain unknown.

Restrictions Imposed on Zhu Su and Davies

The Monetary Authority of Singapore (MAS) has barred Zhu Su and Kyle Davies from regulated activity under the Securities and Futures Act (SFA). They are prohibited from managing, holding director positions, or acquiring substantial shares in any capital market services firm. During Zhu Su’s prison term, Teneo plans to engage with him regarding matters relating to 3AC and asset recovery.

Hot Take: Co-founder of Three Arrows Capital Arrested and Sentenced in Singapore

The arrest and subsequent sentencing of Zhu Su, co-founder of Three Arrows Capital, mark significant developments in the ongoing investigations into the failed cryptocurrency hedge fund. With one co-founder behind bars and another elusive, liquidators are keen on engaging with Zhu Su during his prison term to gain insights into the operations of 3AC and recover its assets. The restrictions imposed by the MAS further limit Zhu Su and Kyle Davies’ involvement in regulated activities. The case highlights the importance of compliance and cooperation with authorities in the cryptocurrency industry.