Su Zhu, the co-founder of the now-bankrupt hedge fund Three Arrows Capital (3AC), was arrested at Singapore’s Changi Airport on September 29 while attempting to leave the country.
This action was taken in response to 3AC’s liquidation company, Teneo, accusing Su Zhu of intentionally refusing to comply with a court order to assist in their investigation.
The court reportedly sentenced him to four months in prison, and a similar ruling was issued against Kyle Davis, another co-founder of the hedge fund whose whereabouts are currently unknown.
As of July, Teneo had declared the possibility of recovering $1.2 billion from Digital Currency Group and BlockFi.
Previous to this, 3AC’s liquidators had filed a lawsuit against Su Zhu and Kyle Davis to reclaim $1.3 billion. In 2022, it was reported that Three Arrows Capital might be insolvent due to the market crash and Terra’s collapse.
In June, a court in the British Virgin Islands ordered the liquidation of the hedge fund, and in July, 3AC filed for bankruptcy in a New York court.
