According to ME News, on August 5 (UTC+8), the liquidators of the now-collapsed crypto hedge fund Three Arrows Capital are suing Evelyn Tao Yaqiong, the wife of co-founder Zhu Su, demanding payment of 146 million dirhams ($40 million) from the sale of a Dubai villa in January 2024. The liquidators state that Zhu Su purchased the property in June 2022 using a $50 million crypto loan provided by the company, and transferred it to his wife around October 26, 2023. His wife is seeking to have the case dismissed, claiming she was unaware of any alleged default by Zhu Su and believes the villa was a gift from him. (Source: Foresight News)
Three Arrows Capital liquidators sue Zhu Su’s wife over $40 million villa sale
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Summary
The liquidators of Three Arrows Capital have filed a CFT-related lawsuit against Evelyn Tao Yaqiong, wife of co-founder Zhu Su, concerning a $40 million Dubai villa. The claim alleges that Zhu Su used a $50 million crypto loan to purchase the property in June 2022 and transferred it to his wife in October 2023. Evelyn contends she was unaware of any breach and considers the villa a gift. The case may also have implications for capital gains tax.
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