Three Arrows Capital Executive Imprisoned After Singapore Arrest

Zhu Su, founder of cryptocurrency hedge fund Three Arrows Capital, has been incarcerated following his arrest at Singapore's Changi Airport.

The consulting firm overseeing the liquidation of Three Arrows Capital, Teneo, notified the authorities of Zhu Su's location.

In the midst of this, another co-founder of Three Arrows Capital, Kyle Davies, remains missing.

An anonymous insider revealed that the liquidators closely monitored Zhu Su's movements in Singapore.

Zhu Su often hosted gatherings at an opulent mansion on Yarwood Avenue, extending invitations to cryptocurrency industry leaders.

On September 29, the liquidators observed a vehicle departing from the mansion, bound for Singapore's Changi Airport, prompting them to report their suspicions regarding Zhu Su's presence.

The insider speculated that Zhu Su, who had been subject to a travel ban, was likely apprehended by immigration authorities as he attempted to leave through the departure checkpoint.

Additionally, the source indicated that the liquidators are in the process of seeking permission to visit Zhu Su at Changi Prison to gather information related to Three Arrows Capital.

If Zhu Su refuses to cooperate, the liquidators may resort to more assertive measures.

When questioned about Zhu Su's arrest, Singaporean authorities confirmed that a 36-year-old man was taken into custody at Singapore's Changi Airport on September 29 at 2:50 pm, although they did not disclose his identity.

Teneo had previously asserted that due to Zhu Su's non-compliance with a Singapore court order compelling him to assist in the liquidation investigation.

An arrest warrant was issued, resulting in a four-month prison sentence for Zhu Su.

A similar warrant was issued for Kyle Davies, who also received a four-month prison sentence.

Despite these developments, neither Zhu Su nor his legal representatives have issued a response, and Teneo has opted not to provide any comments on the matter.

The insider disclosed that the liquidators have been in contact with law enforcement agencies worldwide to locate Kyle Davies, providing assurances to the cryptocurrency industry that they are actively working to find him.

Zhu Su and Kyle Davies were both subject to a nine-year prohibition order imposed by the Monetary Authority of Singapore.

This order prohibits them from engaging in any activities regulated under securities and futures laws, and from holding positions as directors or major shareholders in any capital market services company.

Established in 2012 by Zhu Su and Kyle Davies, Three Arrows Capital is headquartered in Singapore.

The fund faced adversity last May when the stablecoin TerraUSD and its associated token Luna experienced a significant collapse, leading to a directive from the Singapore High Court for Three Arrows Capital to undergo bankruptcy proceedings.