Su Zhu Asked To Appear In Court When CFTC And SEC Want Deep Investigation With 3AC

Three Arrows Capital liquidator Teneo asked a US court to subpoena founder Su Zhu and others via Twitter account and email. Besides that, the CFTC and SEC are also working towards an investigation of possible violations against this bankrupt crypto company.

According to a report by The Block, representatives overseeing the liquidation of defunct hedge fund Three Arrows Capital are asking a US court to subpoena founders Su Zhu and Kyle Davies through Twitter accounts and emails.

The request was made in the hope of forcing the founder of Three Arrows Capital and other participants to provide records and testify. To get a more complete picture of the fund’s assets, the subpoena will force it to produce documents “to determine the existence, location, and methods of acquiring and controlling the fund’s assets,” including information such as account information, memo information, and keys.

“The Founders, through counsel, implausibly insist that the meager information provided to the Foreign Representatives [Teneo], which amounts to an incomplete list of assets and selective disclosures regarding the means to access certain digital assets electronically, representing all of the documents in their possession related to the Debtor,”.

The filing wrote

Meanwhile, US regulators are said to be taking a closer look at 3AC, according to a new report from Bloomberg. According to people familiar with the matter, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) is investigating whether 3AC misled investors about the financial position of its balance sheet and failed to register with the appropriate authorities.

Both agencies declined to comment, but their scrutiny could lead to fines and other penalties for companies and individuals.

On July 2, according to court documents, representatives of Three Arrows Capital filed a petition in a New York court under Chapter 15 of the U.S. Bankruptcy Code to protect its US assets during the liquidation of its assets in the British Virgin Islands.

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