According to a report by Tech in Asia, the liquidators of the now-defunct crypto hedge fund Three Arrows Capital (3AC) have officially filed a lawsuit against Evelyn Tao Yaqiong, the wife of co-founder Zhu Su, seeking to recover 146 million AED (approximately $40 million) from the sale of a villa in Dubai. Court documents reveal that Zhu Su used a $50 million cryptocurrency loan from the company to purchase the property three weeks before 3AC’s bankruptcy liquidation in June 2022. Around October 26, 2023, while serving a prison sentence in Singapore for non-cooperation with the liquidation process, Zhu Su transferred the property to his wife without compensation. The villa was subsequently sold in January 2024. The defendant’s lawyers are seeking to dismiss the lawsuit, claiming she was unaware of any wrongdoing and asserting that the villa was a gift. Currently, 3AC creditors are owed over $3 billion, and the liquidators are continuing to trace related assets. https://www.(wublock123.com)/news/news-65938