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Su Ju, the founder of failed crypto company Three Arrows Capital, has been officially arrested in Singapore. In fact, a Bloomberg report states that the hedge fund founder was detained while trying to leave the country.
The company in charge of liquidating the company, Teneo, said it had obtained an arrest warrant for the founder. In addition, the order was issued after Zhu failed to comply with the requirements of the ongoing liquidation investigation. Subsequently, the report noted that the founder was sentenced to four months in prison.
In what is sure to be an important development for the company, Su Ju, the founder of Three Arrows Capital, has been officially arrested. In fact, Zhu was detained early Friday at Changi Airport. According to several reports, he tried to flee the country.
The detention comes at a time when significant sanctions have been imposed against Zhu. Specifically, those sanctions were issued to both him and the company's co-founder Zach Davies by the Monetary Authority of Singapore (MAS) this month.
The crypto hedge fund collapsed last year amid a general market decline. Before the collapse of digital assets LUNA and Terra, the company had assets worth more than $550 million. The company subsequently suffered huge losses, leading to its own collapse.
Zhu also reportedly refused to cooperate with the liquidators during the investigation that led to the warrant being issued against him. He was subsequently sentenced to four months in prison and Davies faced a similar order against him. He is currently not yet in custody.
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