One of the co-founders of cryptocurrency hedge fund Three Arrows Capital, which went into liquidation last year, has been arrested in Singapore and sentenced to four months in prison, according to the company's liquidator, Teneo. Su Zhu was arrested at Singapore's Changi Airport as he tried to leave the city-state, Teneo, the liquidator of the Singapore company, said Friday.
His arrest came after Teneo announced that he had obtained a warrant for Su Zhu's detention for failing to comply with his investigation into the company's bankruptcy. Kyle Davies, another co-founder of Three Arrows Capital, was also sentenced to four months in prison, but "his whereabouts are not known at this time," Teneo writes.
The liquidator, who is trying to recover Three Arrows' assets in order to repay its creditors, accused Zhu and Davies of not cooperating. The Monetary Authority of Singapore had decided earlier this month to ban the two men from operating in the country's financial sector for nine years.
