A British Virgin Islands court has ordered the freezing of $1.1 billion in assets belonging to the founders of the now-bankrupt crypto hedge fund Three Arrows Capital.
Those affected by the decision are Su Zhu and Kyle Davies, company founders, and Kelly Chen, Davies’ wife.
Details of the order
According to Teneo, the company’s liquidator, the freezing order was issued on December 18, with the goal of preventing the three from accessing their assets internationally. This scenario follows the indictment of the two founders of Three Arrows Capital by the liquidators, accused of contributing to the worsening of the fund’s financial situation.
Confirmation of order in Singapore
On the same day as the British Virgin Islands court order, a Singaporean court confirmed a national freezing order. The news comes after the arrest of Su Zhu at Singapore’s Changi Airport in September when he was trying to leave the country.
