Three Arrows Capital (3AC) co-founder Su Zhu was arrested in Singapore

<img width="250" height="166" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-250×166.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Singapore" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-250×166.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-700×466.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-768×511.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-3-Arrows-Capital-co-founded-Su-Zhu-arrested-iStock-1369488568-5247634532.jpg 1255w" sizes="(max-width: 250px) 100vw, 250px" /><p><span>The 36-year-old’s flee attempt followed repeated failures to assist with an investigation into how the crypto hedge fund, which once managed $10bn in assets, spectacularly collapsed last year. Financial advisory firm Teneo obtained a “commital order” to arrest Zhu so he could assist with the ongoing liquidation procedure. A second co-founder, Kyle Davies, has not yet been arrested and faces similar charges. Teneo wants both men to cooperate in the recovery of assets linked to 3AC’s once-burgeoning fund.</span></p>
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<p><span data-preserver-spaces="true"><span>The firm was a significant crypto player only 18 months ago. However, a stark decline in cryptocurrency prices and an eye-raising trading strategy forced it to file for bankruptcy in July 2022. Teneo says it is now focused on helping its creditors maximise their returns in a case that sent shockwaves across the industry. </span></span></p>
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<p><span data-preserver-spaces="true"><span>The Singaporean central bank banned Zhu and Davies from being involved in a capital market services firm for nine years. That followed attempts by the pair to drum up interest in a new venture, which ironically aimed to leverage bankruptcies in the financial industry via a debt marketplace. Those aspirations are now over as Zhu is in custody, and the police seek to bring Davies “safely” in who faces a similar committal court order.</span></span></p>
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