The liquidator for the failed crypto hedge fund, Teneo, has informed Bloomberg that they obtained a committal order against an individual named Su Zhu. This legal action was taken because Su failed to comply with a court order that required him to cooperate with an investigation related to the liquidation process. In addition to the committal order, Su has been sentenced to four months in prison.

Teneo issued a statement explaining the situation, stating that they had sought and obtained the committal order against Mr. Zhu (Su) on September 25, 2023. This action was a consequence of Su's deliberate refusal to cooperate with the liquidators' investigations and to provide an account of his activities as one of the founders of 3AC and its former investment manager.

Similarly, another co-founder of the fund, Kyle Davies, received a committal order sentencing him to four months in prison as well. However, Davies has not been apprehended due to his current whereabouts being unknown.

Earlier in the same month, the Monetary Authority of Singapore took action by banning Su and Davies from participating in regulated business activities within the country.

Three Arrows Capital, which was once one of the prominent hedge funds in the crypto market, faced significant challenges following the collapse of the Terra ecosystem in the previous year. These difficulties ultimately led the fund to file for bankruptcy in July 2022. As a result, the fund owed more than $3.5 billion to its top creditors, as indicated by documents released during this process.