Fugitive founder of crypto hedge fund that lost $10 billion arrested in Singapore while attempting to flee Davis is still unaccounted for.. https://www.cnbc.com/2023/09/29/fugitive-founder-of-3ac-crypto-hedge-fund-arrested-in-singapore.html?&qsearchterm=3ac
You drop 10 bil,hide and flee,and all you get is a 4 month slap on the wrist??? Sounds about right.......
He should have stayed in prison for 4 months. 4 months is quite short actually. He could have 'enjoyed' the free food and free lodging. During the 4 month cost-free living, he could have reflected on his life. Then decide whether he want to earn even much more money or to just lead a simple humble life. His prison term will most likely be increased because he attempted to escape.
"In January, Davies and Zhu were reportedly attempting to attract investors for a new venture — a distressed debt marketplace dubbed GTX that was looking to capitalize on bankruptcies in the industry."
I do not believe that 'losing' money in risky trades' counts as a crime in itself... Unless, they violated certain things with lenders, which we most likely will hear a lot about going forward. Technically, there is going to be two sides to the story... I watched the Davies interview on both CNBC and with Hugh Hendry. Both were very cringy to watch. Davies looks and acts like the typical clueless millennial who thought he must know everything but really knows nothing. Every sentence he speaks sounds like a 10-year old trying to make something up. I have not seen anything that cringy since the James Cordier apology video.
I don't understand the fascination with Hendry. Returned 2X capital over 15Y and the bulk of that in one month in 2008.