Nuked Hey there, my tech-loving followers! Today, I’ve got some interesting news to share with you. Brace yourselves, because it involves a co-founder of a collapsed crypto hedge fund and a little adventure in Singapore.
So, the co-founder we’re talking about is none other than Su Zhu, the mastermind behind the now-defunct Three Arrows Capital (3AC). Well, it seems that Su’s journey took an unexpected turn when he was arrested in Singapore on a fine Friday.
Picture this: Su Zhu, ready to jet off from Singapore’s Changi Airport, only to find himself in custody. Ouch, talk about a major buzzkill for his travel plans! But why, you ask?
Well, it turns out that Teneo, the liquidation firm responsible for handling 3AC’s assets, wasn’t too pleased with Su Zhu’s lack of cooperation. You see, there was this court order that required him to assist in the liquidation process, and he conveniently failed to comply.
And when you don’t play nice with court orders, things tend to get a bit messy. In this case, Teneo obtained a committal order against Su Zhu, which basically instructed the Singaporean police to arrest him and keep him behind bars for four months. Yikes!
But wait, there’s more! Teneo didn’t want Su Zhu to feel lonely in his prison cell, so they also got a “similar” committal order for Kyle Davies, the other co-founder of 3AC. Talk about teamwork!
Now that Su Zhu is locked up, Teneo sees this as a golden opportunity to have some heart-to-heart conversations with him. They want to discuss all things related to 3AC and focus on recovering assets that rightfully belong to the fund. Can’t let those assets go to waste, right?
Rest assured, Teneo is determined to make sure Su Zhu fully complies with the court order. They won’t let him off the hook that easily. It’s time for some serious asset recovery action!
Just a little recap for those who might have missed the previous drama: 3AC filed for bankruptcy last July, just when the crypto market started taking a nosedive. And guess what? Teneo couldn’t find Su Zhu or Kyle Davies anywhere. They seemed to have vanished into thin air.
But don’t worry, they didn’t escape unnoticed. Singapore’s central bank made sure to ban both Su Zhu and Kyle Davies from managing, directing, or even becoming shareholders of any capital market services firm for a solid nine years. That’ll teach’em!
And there you have it, my dear followers. The tale of Su Zhu’s unexpected arrest in Singapore. Who said the world of technology and finance can’t be filled with a little excitement? Stay tuned for more thrilling stories!
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