The hedge fund’s other co-founder, Kyle Davis, was also summoned for arrest and jailed
Liquidators behind Three Arrows Capital (3AC), a now-defunct cryptocurrency hedge fund, shared that the company’s co-founder Su Zhu was arrested in Singapore at Changi Airport while trying to leave the country.
TenioA financial advisory firm that controlled the liquidation and management of the affairs of the defunct crypto hedge fund said it had obtained a “commitment order” against Zhou after he failed to comply with court orders to cooperate with the liquidation investigation. The order sentenced Cho to four months in prison, according to a statement.
The consultancy added that a similar referral order had been issued against 3AC’s other co-founder, Kyle Davies, who was also summoned to prison for four months. Davis’ whereabouts remain unknown, according to Tinio.
For context, the company was managing $10 billion in assets and was a major entity among players in the cryptocurrency market. In July 2022, 3AC filed for Chapter 15 bankruptcy in New York.
The previous hedge fund bankruptcy forced major crypto players to rearrange their operations and limit customer withdrawals amid a crypto sell-off that seemed to catch many huge companies by surprise at the time, following the collapse of the Terra/LUNA project.
Teneo did not immediately respond to a request for comment from TechCrunch.