Zhu Su and Kyle Davies were directors of the firm, which went bankrupt in 2022. Read more at straitstimes.com.
Creditors claim Three Arrows owes up to US$3.5 billion , and liquidators are seeking to recover around US$1.3 billion from Mr Zhu and Mr Davies, who allegedly racked up the losses when the company was already insolvent.
Ms Loo Siew Yee, MAS assistant managing director for policy, payments and financial crime, said: “Senior management of fund managers are required to implement robust risk management measures to protect the interest of investors. MAS takes a serious view of Mr Zhu’s and Mr Davies’ flagrant disregard of MAS’ regulatory requirements and dereliction of their directors’ duties.
Three Arrows was set up in 2012 by Mr Zhu and Mr Davies, who went to the same school and university, and worked as traders at Credit Suisse.
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