On Friday, a co-founder of the failed crypto hedge fund Three Arrows Capital (3AC), Su Zhu, was arrested in Singapore. Bloomberg reported earlier that Zhu was arrested as he was attempting to fly out of the country from Singapore’s Changi Airport.

The liquidation company which has been put in charge of liquidating the assets of 3AC,, Teneo, noted it had received a committal order for Zhu, due to him failing to comply with an order from the court to cooperate in the liquidation process. The committal order directs police to arrest Zhu, and imprison him for four months. A similar order was obtained by Teneo for the other founder of 3AC, Kyle Davies.

During his imprisonment, according to Teneo liquidators will interview Zhu on “matters relating to 3AC, focusing on the recovery of assets that are either the property of 3AC or that have been acquired using 3AC’s funds.” Teneo added its liquidators “will pursue all opportunities to ensure Mr Zhu complies in full with the court order.”

Last July, just as the crypto market began to decline, 3AC filed for bankruptcy. Shortly afterward, Teneo reported that both Zhu and Davies could not be found. A representative for Zhu and Davies stated the co-founders were avoiding the liquidators due to “threats of physical violence.” 

Singapore’s central bank has banned both Zhu and Davies from directing, managing, or holding shares in “any capital market services firm” for the next nine years.