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Three Arrows Capital Co-Founder Su Zhu Apprehended in SG

Three Arrows Capital Co-Founder Detained in Singapore

Three Arrows Capital co-founder Su Zhu has been detained by Singaporean authorities while attempting to leave the country, now facing a four-month prison sentence.

Image of Three Arrows Capital co-founder Su Zhu

Teneo, the joint liquidators of 3AC, revealed that Su Zhu was arrested at Changi Airport following a court order. He will serve the four-month sentence, while another co-founder, Kyle Davies, is also expected to face four months of incarceration with his current whereabouts undisclosed.

A committal order, issued for contempt of court, was executed in Singapore on September 25. Teneo obtained this order, citing non-compliance with a court directive related to the recovery of funds for 3AC’s creditors.

The hedge fund, valued at $10 billion, collapsed in 2022 amid turmoil in the Terra ecosystem. 3AC faced significant losses due to an overextended leverage on cryptocurrency long positions and substantial borrowings from a crypto lending protocol.

Despite being active on social media, co-founders Zhu and Kyle Davies have evaded liquidators since the fund’s failure. Singapore has sentenced Zhu to four months’ imprisonment through a committal order, as confirmed by Teneo.

“As a result, Mr Zhu will be held in prison to serve his sentence of 4 months under the committal order, during which time the liquidators will seek to engage with him on matters relating to 3AC, focusing on the recovery of assets that are either the property of 3AC or that have been acquired using 3AC’s funds. The liquidators will pursue all opportunities to ensure Mr Zhu complies in full with the court order made against him for provision of information and documents relating to 3AC and its former investment manager during the course of his imprisonment and thereafter, and may make applications for further court orders as required.“

Earlier in the current month, the Monetary Authority of Singapore imposed a nine-year ban on both Zhu and Davies, prohibiting them from participating in regulated investment activities.


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