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Su Zhu, the co-founder of the failed crypto fund Three Arrows Capital (3AC), finds himself at the center of attention as he faces inquiries in Singapore court. The situation has arisen as the liquidator Teneo intensifies efforts to locate and secure assets connected to the high-profile financial firm.
<h2 id="b-su-zhu-to-throw-more-light-on-financial-dealings-of-3ac-b">Su Zhu to Throw More Light on Financial Dealings of 3AC</h2>
As per a <a href="https://www.bloomberg.com/news/articles/2023-12-13/liquidators-question-three-arrows-su-zhu-in-singapore-court-to-find-assets" rel="noopener noreferrer nofollow">Bloomberg report </a>citing familiar sources, Zhu will answer questions from prosecutors in a Singaporean court. Although he faces no criminal charges, the two-day court hearing scheduled for this week will be his first appearance before a Singaporean court since the collapse of his firm.
Notably, the Singapore court proceedings are part of a larger effort to unravel the complex web of financial dealings associated with 3AC. The focus is on understanding the intricacies of the firm’s asset portfolio and financial transactions. As Su Zhu faces questions in court, the financial community eagerly awaits insights into the allegation and the potential impact on 3AC’s reputation.&nbsp;
Meanwhile, the legal scrutiny underscores the challenges faced by prominent figures in the financial industry emphasizing the need for transparency and accountability.&nbsp;
<h2 id="b-su-zhu-set-to-be-released-b">Su Zhu Set to be Released</h2>
Additionally, the report revealed that Zhu is set to be released at the end of the month on good behavior. The billionaire co-founder was arrested in September and jailed for four months for failing to help with the liquidation process of his failed firm.&nbsp;
Recall that, a court in the British Virgin Islands ordered the liquidation of the crypto hedge fund after it <a href="https://thecoinrise.com/voyager-digital-issues-default-notice-to-three-arrows-capital/" rel="noopener noreferrer nofollow">failed to fulfill its obligation to creditors</a>.
<h2 id="b-3ac-founders-subpoenaed-on-twitter-b">3AC Founders Subpoenaed on Twitter</h2>
Recall that in January, <a href="https://thecoinrise.com/3ac-founders-davies-and-su-subpoenaed-on-twitter/" rel="noopener noreferrer nofollow">3AC founders Kyle Davies and Zhu Su were subpoenaed on Twitter</a>. Although the act was not a common occurrence, liquidators had no other options after several efforts to reach the founders failed.
Markedly, the subpoenas were approved by the presiding bankruptcy judge late last year. Both parties showed no interest in the bankruptcy proceedings of the crypto hedge fund. Davis and Su claimed to be in the United Arab Emirates (UAE) but shielded themselves entirely from the eyes of the public. Instead, they increased their Twitter activity thereby, influencing the liquidators’ choice of platform.
Also, the <a href="https://thecoinrise.com/monetary-authority-of-singapore-reprimands-3ac-for-false-info-sharing/" rel="noopener noreferrer nofollow">Singapore watchdog reprimanded 3AC for providing false information</a> and not complying with the specified regulatory framework laid out in the region.&nbsp;
The post <a href="https://thecoinrise.com/3acs-su-zhu-faces-the-singaporean-court-over-the-firms-assets/" rel="noopener noreferrer nofollow">3AC’s Su Zhu Faces the Singaporean Court Over the Firm’s Assets</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

3AC’s Su Zhu Faces the Singaporean Court Over the Firm’s Assets

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