Accéder au contenu principal

BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore

In a significant development for the cryptocurrency industry, Su Zhu, co-founder of the failed hedge fund Three Arrows Capital (3AC), was arrested at Changi Airport in Singapore while attempting to leave the country. 

Zhu’s arrest led to a subsequent court order sentencing him to four months in prison, as confirmed by 3AC’s joint liquidator, Teneo.

Three Arrows Capital Co-Founder Apprehended 

According to reports, While Zhu now serves his prison term, the liquidators will actively engage with him to address matters concerning Three Arrows Capital. 

Their primary focus will be on recovering assets belonging to 3AC or acquired using the fund’s resources. The liquidators seek to maximize returns for the hedge fund’s creditors and will initiate further court proceedings as necessary.

The arrest and subsequent sentencing of Zhu follow the earlier granting of a committal order on September 25. This order was obtained due to Zhu’s intentional non-compliance with a court directive that required his cooperation with the liquidators’ investigations. 

Specifically, Zhu was obligated to provide a detailed account of his activities as a co-founder of 3AC and its former investment manager.

A similar committal order was also issued against Kyle Davies, the other co-founder of Three Arrows Capital. However, Davies’ current whereabouts remain unknown, according to Teneo.

The liquidators have consistently prioritized the recovery of 3AC’s assets and maximized returns for its creditors throughout the process. Their efforts focus on retrieving 3AC’s property and assets acquired using the fund’s funds. 

Lastly, Teneo emphasized that they will continue to work diligently towards these objectives, potentially seeking additional court orders to facilitate the process.

Three Arrows Capital
The total crypto market cap has recovered the $1.05 trillion mark on the daily chart. Source: TOTAL on TradingView.com

Featured image from Shutterstock, chart from TradingView.com


Source link

The post BREAKING: Three Arrows Capital Co-Founder Receives 4-Month Jail Sentence In Singapore appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite