Su Zhu, the co-founder of the collapsed hedge firm Three Arrows Capital (3AC), was arrested in Singapore while trying to get out of the country, according to joint liquidators Teneo.
Su Zhu Has Been Arrested In Singapore
Su Zhu, the co-founder of the collapsed hedge firm Three Arrows Capital (3AC), was arrested in Singapore while trying to get out of the country, according to joint liquidators Teneo.
Teneo was given a committal order against Zhu after he failed to comply with a previous ruling requiring information and records related to 3AC's bankruptcy. Committal orders are used to imprison people who are in contempt of court.
Zhu will serve four months in prison while liquidators try to recover assets owed to creditors from the firm's $10 billion implosion in 2022 following Terra's failure.
Zhu and co-founder Kyle Davies have evaded liquidators but remained active on social media since 3AC's demise. Earlier in June, the pair announced the relaunch of Three Arrows Ventures and their involvement with Open Exchange, a trading platform. Davies' whereabouts remain unknown, though both have been prohibited by the Monetary Authority of Singapore from financial activities in Singapore for nine years.
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