Twitter says 3AC’s Zhu won’t pay off debts with secret $35M house sale
Under-fire Three Arrows Capital (3AC) chief Su Zhu is reportedly looking to sell the house he purchased in one of Singapore’s most exclusive neighborhoods just days after the crypto hedge fund he founded in 2012 was liquidated.
According to a number of well-known Twitter users, including @DoveyWan, @WuBlockchain, and infamous Terra whistleblower @FatManTerra, Zhu is looking to offload the property he bought in December last year for a reported $35 million.
The sale comes as a British Virgin Islands judge on Monday made the decision to liquidate 3AC after the company failed to put up extra funds to cover a raft of bad crypto bets. It held substantial amounts of poor-performing tokens including Solana (SOL), Avalanche (AVAX), Axie Infinity (AXS), and the virtually worthless LUNA.
According to documents published by CoinDesk, the house, situated in the uber-swanky Yarwood Avenue, is a 32-year-old 31,000-square-foot “Good Class Bungalow” (basically a decent-sized house) and was transferred to a trust for the couple’s three-year-old child earlier this year.
CoinDesk also details a number of other luxury properties owned by Zhu and his wife, including a detached house worth $20 million and another home worth nearly $4.5 million.
Zhu allegedly wants the money sent to Dubai
According to Terra insider @FatManTerram, Zhu has requested that payment for the house be transferred to an account in Dubai. The prolific tweeter also goes as far as to speculate that Zhu has no intention of paying off creditors with any funds raised, citing by way of proof:
- Discussions with the property agent,
- Zhu’s attempts to get around the Singapore banking system and liquidation process,
- Sources close to the matter.
Read more: 3AC targeted by Singapore watchdog, says firm handled too much cash
It’s important to note that the sale has not yet appeared on Singapore’s leading real estate sales websites and has not been confirmed by Zhu or any agents acting on his behalf.
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