3AC co-founder Su Zhu sent to prison for 4 months in Singapore

The co-founder of collapsed Three Arrows Capital (3AC), Su Zhu, has been arrested at the airport in Singapore today after he flouted a court order against him and attempted to flee the country on an airplane, according to a statement made by 3AC’s liquidator.

Teneo, the firm tasked with liquidating 3AC, announced the arrest this afternoon. According to the statement, Zhu was apprehended at Changi Airport under powers granted through a committal order.

The committal order, requested by Teneo and granted by the courts on Sept 25, signaled to the police that both 3AC co-founders, Zhu and Kyle Davies, are to be arrested on sight and imprisoned for four months. It was granted after Zhu decided to not follow a previous court order that demanded he cooperate with liquidators.

“Mr Zhu will be held in prison to serve his sentence of 4 months under the committal order,” Teneo said. During this time of imprisonment, the 3AC liquidator says it will begin to engage with Zhu in an effort to recover any assets owned by the firm, or any that have been purchased with 3AC funds.

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Su Zhu’s recent post on X (formerly Twitter) from three days ago.

Read more: Singapore hands 3AC’s Zhu and Davies 9-year markets ban

“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,” the Teneo statement reads.

Zhu and Davies were also handed a nine-year market ban this month by the Monetary Authority of Singapore.

Davies, on the other hand, has evaded Singapore authorities and remains missing. He has previously been active on X (formally Twitter) while refusing to respond to a court subpoena.

His X bio claims, “This account is managed by Kyle Davies team, he does not read social media.”

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Source: https://protos.com/3ac-co-founder-su-zhu-sent-to-prison-for-4-months-in-singapore/