Su Zhu, co-founder of Three Arrows Capital (3AC), was arrested at Changi Airport and sentenced to four months in prison.

Following a series of financial scandals, Su Zhu, co-founder of 3AC Capital, was recently arrested at Changi Airport. The cryptocurrency tycoon was sentenced to four months in prison by the Singapore court for contempt of court as he attempted to leave Singapore.

Monetary Authority of Singapore: Nine-year ban! 3AC Capital's Su Zhu and Kyle Davies prohibited from involvement in any regulated company

Su Zhu Arrested at Changi Airport, Co-Founder Kyle Davies Missing

Su Zhu, co-founder of Three Arrows Capital (3AC), was arrested on Friday, September 29th, at Changi Airport while attempting to leave the country. The Singapore court sentenced Su Zhu to four months in prison based on a detention order. Another co-founder of 3AC, Kyle Davies, received a similar punishment, but his current whereabouts are unknown, according to Teneo, the joint liquidator of 3AC.

Arrested for Contempt of Court

According to reports, Su Zhu was arrested for contempt of court. The court required him to cooperate with the liquidators' investigation and provide a detailed account of his actions as a co-founder and former investment manager of 3AC.

Serving Sentence for Investigation

During his imprisonment, Su Zhu is required to cooperate with the liquidators to recover assets belonging to 3AC or purchased with 3AC funds to protect the rights of creditors. The liquidators may also apply to the court for further orders as needed.

OPNX Platform Token OX Plunges Over 50%

OPNX, a debt trading platform founded by two co-founders of Three Arrows Capital, saw its platform token OX plunge by over 50% following the news.

Related: Three Arrows Capital Rebirth? Debt Trading Platform OPNX Announces New Partner "Three Arrows Ventures"