Kyle Davies, co-founder of the now-defunct hedge fund Three Arrows Capital (3AC), has been sighted in Bali, Indonesia. This sighting comes amidst ongoing legal challenges following 3AC's collapse in 2022. Davies, who has faced bankruptcy proceedings, has been sentenced to four months in jail in Singapore for non-cooperation in the investigation of 3AC's bankruptcy.
Cointelegraph received anonymous tips, including images, showing Davies at the Milk and Madu cafe in Canggu, Bali, on November 8. Witnesses describe him as seeming content and trying to disguise his identity when he suspected recognition. Notably, these images closely resemble Davies' online photographs.
An observer remarked on the certainty of his identification, particularly when he donned sunglasses upon feeling recognized. This sighting follows the arrest of Davies’ business partner, Su Zhu, in Singapore on September 29, under similar circumstances.
The New York Times has reported that both Davies and Zhu spent significant time in Bali instead of participating in bankruptcy proceedings in the United States and Singapore. Davies has avoided contempt charges in the U.S. following his renunciation of American citizenship in 2022, after marrying a Singaporean national.
U.S. Bankruptcy Court Judge Martin Glenn ruled that U.S. courts could not exercise jurisdiction over Davies due to his non-American citizenship status. However, the judge suggested that Singaporean courts could compel Davies' compliance. Davies' ongoing legal challenges in Singapore, including a pending arrest and a four-month sentence, are a result of a committal order by Teneo for contempt of court.
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