Su Zhu, co-founder of the bankrupt Three Arrows Capital (3AC), faces fines and jail time.
The fight between the founders of Three Arrows Capital and court-appointed liquidators accused of solving its assets has reached Thailand. Su Zhu, who has abstained from testimony since the company’s collapse, recently gave an affidavit in Bangkok.
Three Arrows Capital Co-Founder Could Get Jailed
3AC co-founder Su Zhu claims he could face “fine and jail time” as director of Three Arrows Fund LP (TACPL) and its other representatives. Zhu also, in his affidavit, accused the liquidators of misleading the Singapore Supreme Court about the hedge fund’s structure.
On Wednesday, Teneo’s liquidators received court approval to investigate the hedge fund’s remaining assets. However, Zhu says the liquidators misrepresented the structure of their firm.
TACPL was licensed in Singapore until the end of July 2021, after which he ceased to act as investment manager. It was replaced by British Virgin Islands-based ThreeAC Ltd. Representatives of the company may face negative consequences, as TACPL will not be able to meet the demands of the liquidators.
Zhu, one of the directors of TACPL, stated that its officers and representatives could face fines and imprisonment for contempt of court.
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