According to Bloomberg, Zhu Su, the founder of Three Arrows Capital, which went bankrupt in 2022, was arrested in Singapore.
Additionally, Zhu Su was sentenced to 4 Months in prison by the Singapore Court.
According to Bloomberg, Teneo, the liquidator of Three Arrows Capital, confirmed that Su Zhu was arrested at the airport this afternoon while trying to leave Singapore.
On September 25, 2023, Teneo received an arrest warrant and a 4-month prison sentence from the court for Zhu Su's failure to cooperate with the investigation with the liquidators and his willful failure to comply with a court order forcing him to account for his activities.
In the face of this arrest warrant, Zhu Su was caught at the airport while trying to leave the country.
Based on this court decision, Teneo liquidators will be able to make any requests and apply for further court action to ensure that Zhu Su fully complies with the court order against him for the provision of information and documents related to 3AC during and after his detention.
What Happened?
Cryptocurrency hedge fund Three Arrows Capital, which was ordered to be liquidated by a court in the British Virgin Islands in late June 2022, filed for bankruptcy in early July.
The bankruptcy filing of Three Arrows Capital, which suffered heavy losses and went through difficult times during the collapse in the cryptocurrency market, also affected many cryptocurrency companies.
3AC had borrowed large amounts of funds from various crypto lenders, including BlockFi, Celsius, Babel Finance and Voyager Digital, but was unable to repay.
