Summary:
- Three Arrows Capital Co-founder, Su Zhu, is reportedly looking to sell his $35 million Singapore mansion.
- Su Zhu allegedly bought the mansion in December 2021 at S$48.8 million.
- The house is held under a trust belonging to one of his children.
- According to sources, liquidators in Singapore are looking to seize properties owned by Three Arrows Capital parties.
The co-founder of the embattled crypto hedge fund of Three Arrows Capital, Su Zhu, is reportedly looking to sell his $35 million Singapore mansion.
According to a report by Bloomberg, the mansion has been up for sale for the last two weeks. Mr. Zhu purchased the property in December 2021 at a value of S$ 48.8 million ($35M). The mansion is currently held under a trust belonging to one of his children.
Similarly, Colin Wu of WuBlockchain also highlighted the potential mansion sale by Su Zhu, further clarifying that it had been confirmed by some real estate agents but did not appear on public listings.
Su Zhu Wants the Proceeds of the Sale Sent to a Dubai Bank Account.
Crypto community member @FatManTerra also shared his insights into the situation, stating that Su Zhu has requested that the proceeds of the mansion sale be sent to a Dubai Bank account. He explained:
A verified source has confirmed that Su Zhu is urgently trying to sell his $35m house in Singapore, currently held in his son’s trust. He is requesting the funds to be transferred to a bank account in Dubai and has no intention of paying creditors with the proceeds from the sale.
Liquidators Are Trying to Seize Properties Owned by Three Arrows Capital Co-founders.
In another report by EdgeProp, rumors have begun to emerge that liquidators in Singapore are trying to seize properties belonging to the two founders of Three Arrows Capital: Su Zhu and Kylie Davis.
The report also pointed out that between 2019 and 2021, Mr. Zhu bought three bungalows in Singapore for a total of $83.55 million. In addition, Su Zhu and his wife own another $28.5 million house in Singapore that is currently under construction.
According to the report, parties related to Three Arrows Capital collectively own ‘five high-end properties including GCBs, a shophouse, and a townhouse.’ Other assets include ‘a fleet of high-end cars and a yacht.’