The co-founder of Three Arrows Capital Su Zhu was apprehended at an airport in Singapore while trying to travel out of the country on Friday afternoon.
The failed crypto hedge fund’s liquidator Teneo told Bloomberg that it received a committal order against Su after he did not comply with a court order telling him to cooperate with an investigation involving liquidation. According to Bloomberg, that order also sentenced Su to four months in prison.
"The joint liquidators had applied for and obtained the committal order against Mr Zhu on 25 September 2023 as a consequence of his deliberate failure to comply with a court order obtained which, in essence, compelled him to cooperate with the liquidators investigations and account for his activities as one of the founders of 3AC and its former investment manager," Teneo said in a statement.
Three Arrows Capital, once one of the largest hedge funds in the crypto market, ran into trouble in the months after the collapse of the Terra ecosystem last year,Updated at 10:35 a.m. with a quote from Teneo's statement © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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