3AC Co-Founder Concerned About Facing Prison Time
Su Zhu – one of the Founders of the distressed crypto hedge fund Three Arrows Capital (3AC) – is reportedly worried about fronting severe law punishment. Specifically, the Singaporean said he, Kyle Davies, and other executives could face “fines and imprisonment” for being in charge of the troubled company. At the end of June, a court in the British Virgin Islands ordered 3AC into liquidation.
According to a recent Bloomberg report, Zhu delivered his affidavit in person in Thailand several weeks ago. In it, he claimed he is concerned about “the potentially draconian consequences arising from the Liquidators’ exercise of their wide powers.” The executive is worried that there is a real chance he and some other managers at the organization will go behind bars. The advisory firm appointed by a court in the British Virgin Islands to liquidate 3AC’s assets.
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