Former Three Arrows Capital Executive Su Zhu Arrested in Singapore

Su Zhu, a founding subordinate of the now-insolvent Three Arrows Capital, was apprehended successful Singapore astatine Changi Airport connected Friday, arsenic per the firm’s liquidator, Teneo. Zhu received a four-month situation condemnation for failing to cooperate successful the bankruptcy proceedings, Teneo revealed.

Crackdown astatine Changi Airport: 3AC’s Su Zhu Detained, Associate Kyle Davies Fugitive

Teneo, overseeing the liquidation of Three Arrows Capital, reported that co-founder Su Zhu was seized and sentenced to 4 months’ incarceration. His associate, Kyle Davies, remains astatine large; however, Teneo confirmed helium was fixed an identical penalty.

Zhu allegedly tried to fly Singapore erstwhile helium was intercepted astatine Changi Airport, situated astir 25 miles eastbound of Singapore’s Downtown Core. The Singapore tribunal decreed that Zhu and Davies had not been collaborating with the liquidation process – an contented antecedently reported by the media months anterior to his apprehension.

The defunct Singapore-based cryptocurrency hedge money erstwhile supervised implicit $10 cardinal successful assets astatine its height. However, a confluence of perilous trading tactics, Terra’s collapse, and plummeting cryptocurrency values obliterated the firm’s assets. Consequently, 3AC declared bankruptcy and was mandated to liquidate by a British Virgin Islands tribunal connected June 27, 2022.

Squawk Box posted connected X that Kyle Davies, the co-founder of Three Arrows Capital, was asked if helium was successful Bali due to the fact that Indonesia is 1 of 7 countries that volition not extradite him to the United States. While that interrogation was successful November 2022, Davies is believed to beryllium inactive successful Bali.

What bash you deliberation astir the 3AC co-founder’s arrest? Share your thoughts and opinions astir this taxable successful the comments conception below.