Three Arrows Capital co-founder Zhu arrested in Singapore airport, sentenced 4 months in jail
The hedge fund’s different co-founder Kyle Davies can be being referred to as for arrest and imprisonment
The liquidators behind Three Arrows Capital (3AC), the now-defunct crypto hedge fund, shared that the agency’s co-founder Su Zhu was arrested in Singapore on the Changi Airport whereas making an attempt to depart the nation.
Teneo, a monetary advisory agency controlling the liquidation and administration of affairs for the defunct crypto hedge fund, stated it obtained a “committal order” towards Zhu after he did not adjust to court docket orders to cooperate with the liquidation investigation. The order sentenced Zhu to 4 months in jail, in response to a press release.
The advisory agency added {that a} related committal order was granted towards the opposite 3AC co-founder, Kyle Davies, who can be being referred to as for 4 month imprisonment. Davies’ whereabouts stay unknown, in response to Teneo.
For context, the agency as soon as managed an estimated $10 billion in property and was a serious entity amongst crypto market gamers. In July 2022, 3AC filed for Chapter 15 bankruptcy in New York.
The hedge fund’s prior insolvency pressured main crypto gamers to rearrange their operations and restrict buyer withdrawals amid a crypto sell-off that appeared to catch loads of mega corporations off guard on the time, after the collapse of the Terra/LUNA challenge.
Teneo didn’t instantly reply to a request for remark from TechCrunch.