The wife of Zhu Su, co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owned in Singapore for S$51 million ($38.5 million) despite a court-imposed freezing order on some of the couple’s others. entities.

The sale of Tao Yaqiong, also known as Evelyn, was signed in July and completed last month, according to property records seen by Bloomberg News. The so-called good-class bungalow sits on 1,446 square meters (15,568 square feet) of land on Dalvey Road, near the Singapore Botanical Gardens. Tao bought the house for S$28.5 million in 2020 and has since redeveloped it.

Zhu, along with co-founder Kyle Davies, once built 3AC into one of the largest crypto-native hedge funds in the world. But it collapsed in 2022 after a series of bad bets, amid a broader crypto rout and a series of crashes in the industry.

Zhu, who once boasted on social media of “buying every good class bungalow in Singapore”, has since seen his fortunes deteriorate further. In 2023, Singapore’s financial regulator imposed a nine-year ban on Zhu and Davies from conducting regulated financial activities in the city, and Zhu was briefly jailed for several months last year for failing to cooperate in a mission to end the Three Arrows.

3AC liquidators Teneo last year successfully sought a worldwide freeze of $1.14 billion in the assets of Zhu, Davies and Davies’ wife Kelly Chen, arguing that the fund’s creditors were owed about $3.3 billion.

Assets subject to the divestiture ban include another mansion on Singapore’s Yarwood Avenue, which Zhu bought with his wife as trustee for S$48.8 million in late 2021 and is trying to sell in 2022, Bloomberg News previously reported is taking. It also includes another small house owned by Zhu on Balmoral Road.

Teneo did not respond to a phone call and email sent after hours. Zhu did not immediately respond to a message sent via social media.

According to records, the house in Dalvey was purchased by Singaporean citizen Chrispianto Karim. The Business Times, which previously reported the purchase, said he was a member of the Indonesian Karim family, which controls Musim Mas Group, a palm oil conglomerate headquartered in Singapore.