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Three Arrows Capital Co-Founder Accused of Using Firm Funds to Buy Dubai Property

Guavy AI Editorial Team
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Zhu Su, co-founder and director of the now-defunct crypto hedge fund Three Arrows Capital, allegedly used his firm's cryptocurrency to buy a Dubai property worth US$30 million.

The property was purchased in June 2019, just three weeks before the hedge fund's liquidation due to a significant crash in cryptocurrencies. Zhu Su served jail time in Singapore for non-compliance with a court order while this was happening.

According to reports, Three Arrows Capital provided Zhu Su with a purported loan of US$50 million worth of cryptocurrency to buy the property. This loan allegedly came from his own firm, which he used to purchase the property for 110 million dirhams (US$30 million).

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