Su Zhu, co-founder of collapsed crypto hedge fund Three Arrows Capital (3AC), has been arrested and put behind bars in Singapore for four months for failing to cooperate with investigators probing the collapse of the fund, which at its peak managed around $10bn in assets, according to a report by the Financial Times.
The report cites a statement from 3AC’s liquidator Teneo, as confirming that Zhu was apprehended at Singapore’s Changi Airport on Friday while trying to leave the country, after Teneo won a court order for his imprisonment earlier in the week.
Zhu’s 3AC co-founder Kyle Davies, has also been committed to four months in prison “but his whereabouts remain unknown at this point in time”, according to Teneo.
In the statement Teneo said that the court order had been granted “as a consequence of his [Zhu’s] deliberate failure” to comply with the liquidators and “account for his activities as one of the founders of 3AC”.
3AC owes more than $3bn to creditors which include collapsed broker Genesis and exchange Blockchain.com.