3AC Co-founder Su Zhu Jailed In Singapore, Sleeping On Straw Mats

Su Zhu, co-founder of Three Arrows Capital, has found himself behind bars in Singapore after months of legal battles and disputes over the fate of the failed crypto hedge fund’s assets, totaling a staggering $1.3 billion.

According to a Bloomberg report, typical conditions at Changi Prison involve having four inmates in a cell, sleeping on straw mats instead of beds. In contrast, it has been reported that Zhu owns a luxurious two-story, six-bedroom mansion in Yarwood, which was purchased in 2021 for a significant amount ($36 million).

3AC Co-founder Su Zhu Jailed

The arrest was made following a committal order obtained by the liquidator, Teneo, who also secured an order for Kyle Davies, the other co-founder of Three Arrows. Importantly, neither of them currently faces any criminal charges in Singapore. The police only acted upon being tipped off by the liquidators, emphasizing the civil nature of the matter.

The downfall of Three Arrows Capital in 2022, triggered by leveraged bets gone awry, had far-reaching consequences, contributing to a $2 trillion digital-asset market downturn. Su Zhu and Kyle Davies now face allegations of failing to cooperate fully with the liquidators’ investigation.

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