3AC Liquidators Sue Zhu Su's Wife Over $40M Dubai Property Sale Proceeds

Three Arrows Capital liquidators seek to recover $40M from a Dubai property sale, alleging co-founder Zhu Su transferred assets to evade creditors before his 2022 collapse.

Woofun AI reports that Three Arrows Capital liquidators have initiated legal action against Evelyn Tao Yaqiong, wife of co-founder Zhu Su, to recover approximately $40 million from the sale of a Dubai property. The liquidators allege the property, purchased for roughly $30 million three weeks before 3AC’s June 2022 liquidation, was funded by a $50 million crypto loan Zhu Su obtained from the firm. Ownership was transferred to his wife in October 2023 while he served a prison sentence in Singapore, followed by a January 2024 sale. The liquidators claim this transfer breached fiduciary duties and aimed to shield assets from creditors. Tao denies knowledge of the funds' source, asserting the property was a personal gift and that she is entitled to the proceeds due to their separation since 2022.