Liquidators of Three Arrows Capital are pursuing Zhu Su’s wife to recover approximately $40 million from the sale of a villa in Dubai. The property was purchased for the equivalent of $30 million, allegedly financed by a $50 million crypto loan granted by the fund to Zhu Su just three weeks before its liquidation in June 2022. The transfer of ownership to his wife reportedly occurred while Zhu Su was serving a prison sentence in Singapore for contempt of court related to the fund’s bankruptcy. Led by advisory firm Teneo, the liquidators are seeking a total of over $1.3 billion from Zhu Su and his associate Kyle Davies, who are accused of concealing leveraged transactions before the fund’s collapse.
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