By Elizabeth Howcroft
(Reuters) -Su Zhu, one of the founders of bankrupt crypto hedge fund Three Arrows Capital, has been apprehended at Changi Airport in Singapore, the company’s liquidators Teneo said on Friday.
Zhu will spend four months in prison under an arrest order after he did not comply with an order to cooperate with investigations into Three Arrows Capital, which filed for bankruptcy last year, Teneo said in an email.
A similar order has also been granted for Zhu’s co-founder Kyle Davies, but his “whereabouts remain unknown at this point in time,” Teneo said.
Reuters was not immediately able to verify Zhu’s arrest. A law firm representing Zhu and lawyers representing Davies did not immediately respond to a request for comment. Singapore police did not immediately respond to a request for comment.
Three Arrows Capital was one of the first high-profile cryptocurrency firms to collapse in 2022, filing for bankruptcy after being hit by a sharp sell-off in crypto markets.
In a November 2022 interview, Davies pushed back on claims from Teneo that he and Zhu were not cooperating with the liquidation process.
“We’ve been cooperating the whole way,” Davies told CNBC.
(Reporting by Elizabeth Howcroft in London; additional reporting by Hannah Lang in Washington; editing by Christina Fincher and Rami Ayyub)
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