Three Arrows Capital Execs Could Face Serious Legal Trouble

Celsius and 3AC executives might get in serious legal trouble.

A lawyer told Fortune that executives of these troubled companies could face civil liability for actions such as “fraudulent transfer” and “insider preference.”

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Executives of Three Arrows Capital and Celsius might face heavy fines or court-ordered repayments.

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If it is proven that these executives misrepresented their actions or lied to investors during bankruptcy proceedings, they could face criminal prosecution and even jail time.

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As reported earlier, 3AC founders opened up about what led to the company’s downfall.

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Zhu Su and Kyle Davies revealed that they suffered deep losses in 3AC and called the whole thing “regrettable.”

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However, both these founders denied any allegations that they pulled money out of 3AC before it all “blew up.”

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Earlier, Terra’s co-founder Shin-Hyun Seong was raided in Seoul.

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