Three Arrows Capital co-founder Su Zhu faces his first trial in a Singapore court and is reportedly about to be released.
Su Zhu, co-founder of bankrupt cryptocurrency lender Three Arrows Capital (3AC), is reportedly set to be released from prison this month after facing an extensive trial in a Singapore court.
Zhu was arrested in Singapore in September 2023 while trying to flee the country, and a local court sentenced him to four months in prison. At the time, 3AC's joint liquidator Teneo said Zhu planned to assist in matters related to 3AC and help recover assets from the defunct company.
Zhu faced his first trial in Singapore this week and responded to Teneo lawyers during a two-day court hearing, Bloomberg reported on Dec. 13. Citing people familiar with the matter, Bloomberg said the lawyers are seeking details about how the fund failed and the whereabouts of its assets. Zhu will be released this month under good conduct rules, according to Bloomberg's sources.
“The liquidators will seek every opportunity to ensure that Mr Zhu fully complies with court orders for the production of information and documents relating to 3AC and its former investment managers, both during his incarceration and thereafter, and may apply for further court orders as may be required,” Teneo told Cointelegraph in September.
Teneo did not immediately respond to Cointelegraph’s request for comment.
The lawsuit between Zhu and Teneo's representatives is reportedly a civil case, as Zhu and Davis are not facing any criminal charges in Singapore. Davis, who remains at large, received the same warrant sentencing him to four months in prison.
In September 2023, Singapore’s central bank issued a nine-year ban on Davies and Zhu for alleged violations of the country’s securities laws by 3AC.
