Three Arrows going after founder Zhu Su’s wife for US$40 million from Dubai property sale

[SINGAPORE] While Zhu Su, the co-founder-director of the now-in-liquidation crypto hedge fund Three Arrows Capital, was serving jail time in Singapore for non-compliance of a court order, he was said to have transferred a Dubai property to his wife.

The property, bought for 110 million dirhams (US$30 million), was allegedly paid for from a purported loan of US$50 million worth of cryptocurrency from Three Arrows Capital to Zhu.

He was said to have made the purchase three weeks before the hedge fund was placed in liquidation in June 2022 after the crash in cryptocurrencies.