In a recent two-day court hearing in Singapore, Su Zhu, the co-founder of Three Arrows Capital, faced questioning over the collapse of the crypto fund.

Liquidators were reportedly able to gather vital information in their pursuit of recovering billions of dollars for creditors.

3AC Co-Founder Su Zhu Questioned In Singapore Court

According to a recent Bloomberg report, Zhu, who co-founded the Three Arrows Capital with Kyle Davies, was questioned by lawyers from Teneo, the appointed liquidator.

The queries aimed to uncover details about the fund’s failure and the current whereabouts of its assets.

Zhu’s questioning was approved after his arrest on September 29 at the Singapore airport.

According to the report, he was held for four months due to non-cooperation with the winding-up process. However, he is expected to be released this month.

During the court appearance, Zhu reportedly acknowledged the impending questioning. However, neither his legal representative or the court reportedly provided comments.

Three Arrows Capital collapsed in 2022, contributing to a $2 trillion crypto market downturn.

Liquidators allege that Zhu and Davies failed to cooperate adequately with the investigation. Furthermore, they are seeking to recover $1.3 billion from them.

Teneo approximates the total owed to creditors at around $3.3 billion.

3AC Experienced a Significant Downfall

Read more: What Is a Rug Pull? A Guide to the Web3 Scam

The ongoing proceed

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Author: Ciaran Lyons

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