Zhu Su’s Wife Sells Singapore Mansion Amid Financial Turmoil.
Tao Yaqiong, wife of Zhu Su, co-founder of the collapsed cryptocurrency hedge fund Three Arrows Capital (3AC), has successfully sold her mansion in Singapore for S$51 million (approximately $38.5 million). This sale occurred despite a court-imposed freeze on some of the couple’s other assets.
The property transaction, finalized in August, involved a good class bungalow located on Dalvey Road, near the Singapore Botanic Gardens. Tao purchased the property for S$28.5 million in 2020 and subsequently redeveloped it. The sale comes at a tumultuous time for Zhu, who, alongside co-founder Kyle Davies, saw 3AC rise to prominence before its downfall in 2022, triggered by poor investment decisions amid a broader cryptocurrency market collapse.
ALSO READ :- https://virenbrew.com/global-gold-prices-surge-to-record-high-amid-geopolitical-tensions-latest-rates-in-india/
Since the hedge fund’s failure, Zhu has faced significant legal and financial repercussions. In 2023, Singapore’s financial regulator imposed a nine-year ban on Zhu and Davies from conducting regulated financial activities, and Zhu served a brief jail term for failing to assist in the winding up of 3AC. The liquidators, Teneo, obtained a worldwide asset freeze of $1.14 billion against Zhu, Davies, and Davies’ wife, citing debts owed to creditors totaling approximately $3.3 billion.
The Dalvey mansion was acquired by Chrispianto Karim, a member of the influential Indonesian Karim family, which controls the Musim Mas Group, a prominent palm oil conglomerate.
Follow us on INSTAGRAM – https://www.instagram.com/virenbrew/
Follow us on TWITTER (X) – https://x.com/VIRENbrew
Follow us on LINKEDIN – https://linkedin.com/in/viren-brew-230415328/
Follow us on FACEBOOK – https://www.facebook.com/profile.php?id=61565127137999
Follow us on YOUTUBE – https://www.youtube.com/@VIRENbrew