Su Zhu, the co-founder of the now-bankrupt crypto hedge fund Three Arrows Capital (3AC), is reportedly set to be released this month following an interrogation in a Singapore court.
Su Zhu, the co-founder of the now-bankrupt crypto hedge fund Three Arrows Capital (3AC), is reportedly set to be released this month following an interrogation in a Singapore court. Zhu was arrested in Singapore’s Changi Airport in September 2023 as he attempted to leave the country after receiving a four-month prison sentence from a local court.
According to Bloomberg, Zhu recently underwent his first round of questioning in Singapore. Over the course of a two-day court hearing, Zhu responded to inquiries from Teneo lawyers. Bloomberg's sources revealed that the lawyers sought information about the fund's failure and the location of its assets. Based on standard provisions for good behavior, Zhu is expected to be released this month, as stated by individuals familiar with the matter.
In September, Teneo said that it would actively ensure Zhu's compliance with the court order for the provision of information and documents regarding 3AC and its former investment manager during and after his imprisonment. They also mentioned the possibility of seeking further court orders if necessary.
3AC, a Singaporean crypto hedge fund co-founded by Kyle Davies and Su Zhu in 2012, faced financial difficulties when it failed to meet margin calls from lenders during the crypto market downturn in 2022. The Monetary Authority of Singapore (MAS),has issued a nine-year prohibition order against both Zhu and Davies from participating in any financial services.
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