Jakarta, CNBC Indonesia – CEO of bankrupt crypto bookie, Three Arrows Capital (3AC), Su Zhu has been arrested in Singapore. His co-founder, Kyle Davies, is said to be living a relaxed life in Bali.
Davies has been sentenced to four months in prison in Singapore for evading justice in the 3AC bankruptcy investigation.
Source Cointelegraph stated that Davies now lives in Bali. He was visible hang out at Milk and Madu in Canggu Bali with a woman whose identity is unknown on November 8 2023. Another source, who is involved in the 3AC bankruptcy process, confirmed that Davies is indeed domiciled in Bali.
Davies has been living in Bali for several months to avoid being monitored by Singapore law enforcement. He has also often posted photos of himself on social media in the last 2 years.
According to sources Cointelegraph in Bali, Davies looked “alive, healthy and cheerful”. When he felt recognized by people around him, Davies appeared to cover his face. In the photo submitted to Cointelegraph, Davies wore a pink shirt and sunglasses.
“100 percent it was him. From his shirt and glasses, I also saw him without glasses. He then put on his glasses when he felt recognized and didn’t take them off until we left the location,” said the source. Cointelegraph.
Su Zhu was arrested at Singapore airport on September 29. He was detained when he tried to flee the city after 3AC bankruptcy manager Teneo succeeded in obtaining a court warrant to imprison Su Zhu and Davies.
The New York Times previously reported that both Su Zhu and Davies had lived in Bali for a long time to avoid legal proceedings in the United States and Singapore.
The continuation of Davies’ legal case in Singapore is now awaiting cooperation from the authorities in Bali.
Davies can now no longer be tried in the United States in connection with the 3AC case because he has given up his American citizenship status through marriage to a Singaporean citizen.
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