Co-founder of 3AC, Zhu Su arrested in Singapore, faces four months in prison. Similar committal order issued for 3AC co-founder Kyle Davies. The co-founder of failed crypto hedge fund Three Arrows Capital, Zhu Su arrested at Changi Airport whilst attempting to travel out of Singapore on Friday (Sep 29) afternoon, as per The Business Times.
Zhu Su, the co-founder of the now-defunct hedge fund Three Arrows Capital (3AC), found himself in legal trouble at Changi Airport, Singapore. On Friday, September 29th, he was apprehended while attempting to leave the country.
Zhu Su Arrest - 4 months prison sentence
The Singapore Courts swiftly issued a committal order, resulting in a four-month prison sentence for Zhu Su. The action was taken due to his deliberate failure to cooperate with the liquidators' investigations, which a court order had mandated. Additionally, the order aimed to hold Zhu Su accountable for his activities as a co-founder and former investment manager of 3AC.
Notably, this isn't an isolated incident. Kyle Davies, another co-founder of 3AC, received a similar committal order with a four-month prison term, though his whereabouts currently remain unknown.
Throughout Zhu Su's imprisonment, the liquidators will actively engage with him, focusing on recovering assets owned by 3AC or acquired using its funds. If necessary, Teneo, the joint liquidator, may also pursue further court orders. Their unwavering commitment lies in recovering 3AC's assets and maximizing returns for its creditors.
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