According to Chinese journalist Colin Wu, Three Arrows Capital co-founder Zhu Suh put his mansion in Singapore up for sale through certain real estate agents, but there is no mention of it on any social media.
A British Virgin Islands court recently ordered the liquidation of cryptocurrency hedge fund Three Arrows Capital (3AC) following a series of problems seen amid the collapse of TERRA and LUNA, as the hedge fund allegedly opened a huge position in UST based on Anchor.
Rumor has it that after the liquidation of 3AC, its co-founder Zhu Soo put his real estate, namely the mansion he bought in 2021 for his three-year-old child, up for sale.
In December 2021, Zhu Su and his wife Tao Yatsun Evelyn bought the high-end Good Class Bungalow (GCB) on Yarwood Avenue in Singapore’s Bukit Timah district for S$48.8 million, but did not finalize it until earlier this year. Remarkably, only a Singaporean can own such a property.
The building measures 2,960 square meters, costs S$16,486 per square meter, and the property is registered in their child’s name and is held in “trust.” Joo Soo himself has yet to confirm the rumors.
Singapore news site The Straits Times reported that Three Arrows Capital would face a reprimand from Singapore’s financial authorities for providing false information and exceeding the limit on the amount of assets under management. The 3AC was allowed to serve a maximum of 30 qualified investors and manage about $250 million in assets.
The regulator cited three violations by the cryptocurrency hedge fund, including 3AC’s failure to notify the Monetary Authority of Singapore (MAS) of changes made to Zhu and co-founder Kyle Davies’ status at the firm by the deadline.
The hedge fund also provided misleading information: its representatives told MAS that they had transferred the management of their fund to a third-party offshore company last year, but this wording was misleading because Zhu Su was a shareholder in both 3AC and that offshore company.