Su Zhu, one of the founders of Three Arrows Capital, was interrogated for the first time in a Singapore court about the collapse of his cryptocurrency fund.
According to information reported by Bloomberg, Zhu made statements to lawyers on behalf of the fund’s collector, Teneo, during the two-day hearing.
Lawyers raised questions about how Three Arrows Capital collapsed and where the money in the fund was.
Zhu was arrested in Singapore on September 29 on the grounds that he did not cooperate with the liquidation process of Three Arrows.
Creditors accuse Zhu and Kyle Davies, the founders of Three Arrows, which collapsed in 2022, of not cooperating with the investigation, and the duo is accused of not cooperating with the investigation. Receive a refund of $1.3 billion it works. According to Teneo’s estimates, creditors have a total of approximately $3.3 billion He has money left.
Zhu’s answers to the lawyers indicate that this money as much as possible It will be shared with creditors in order to save it.
Collectors continue to work with authorities to trace Davies’ whereabouts.
Zhu is expected to be released on good behavior this month.