Su Zhu, the co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), has been sentenced to four months in prison by a Singapore court, as per recent updates from Teneo, the firm’s joint liquidators.
Earlier today, Zhu was arrested at Changi Airport while he was attempting to depart from Singapore, according to a report by local financial outlet The Business Times.
This comes after significant sanctions and a trading ban had been levied against him and his co-founder, by the Monetary Authority of Singapore (MAS) in September.
The hedge fund fell from grace last year due to a glaring lack of a proper risk management framework. Significant holdings in LUNA and Terra, which were worth around $560 million at their peak, crumbled, leading to substantial losses.
Post-collapse, founders Zhu Su and Kyle Davies defaulted on loans and went missing, triggering legal pursuits.
