After Bankruptcy, Three Arrows Capital Crypto Founder Imprisoned in Singapore

EKISPEDIA.COM - After going bankrupt, the co-founder of crypto hedge fund Three Arrows Capital was arrested and jailed in Singapore.

The businessman named Su Zhu was caught while trying to fly from Changi airport to leave Singapore.

According to Three Arrows liquidator, Teneo, a Singapore court decided to imprison Su Zhu for four months because he refused to follow the legal process related to the bankruptcy of Three Arrows Capital.

"The order given by the Singapore Court sentenced Zhu to 4 months in prison," said Teneo, as published by AlArabiya on Saturday (29/9).

Meanwhile, Teneo revealed that another Three Arrows Capital founder, Kyle Davies, was also sentenced to four years in prison. , but its whereabouts are still unknown.

Due to the actions of the two crypto bosses, Singapore authorities banned them from carrying out investment activities for the next nine years.

Singaporean authorities have assigned staff to recover Three Arrows' assets and provide restitution to its creditors after the company failed.

But Zhu and Davies allegedly did not cooperate with refund efforts and failed to provide information voluntarily.

The Singapore-based company filed for bankruptcy last year when its fortunes saw a sharp decline following a massive sale of staked assets as prices plummeted in the crypto market.