Headline: Media: Co-Founder of #3AC Detained at Singapore Airport

According to The Business Times, on September 29th, co-founder of the #bankrupt hedge fund Three Arrows Capital (3AC), Su Zhu, was detained at Changi Airport in Singapore while attempting to leave the country. This incident occurred following demands from Teneo, the company handling the liquidation of 3AC, to take measures against Su Zhu for "willful refusal" to comply with a court order related to cooperation in an investigation.

The company stated that the court had sentenced Su Zhu to four months in prison. A similar decision, according to journalists, was made regarding another co-founder of the hedge fund, Kyle Davies, but his current whereabouts are unknown.

In July, Teneo expressed hope for the return of $1.2 billion through legal proceedings from Digital #Currency Group and BlockFi. Earlier, the liquidators of 3AC filed a lawsuit against Su Zhu and Kyle Davies, demanding the return of $1.3 billion. In May 2022, reports emerged about the possible insolvency of Three #Arrows Capital following the cryptocurrency market crash.

In June, the British Virgin Islands court ordered the liquidation of the hedge fund. In July, 3AC filed for bankruptcy in a New York court. According to #Nansen , the organization managed assets worth approximately $10 billion.