3AC founder Kyle Davis has been spotted in Bali, sources say

Three Arrows Capital (3AC) founder Kyle Davis has reportedly been spotted in Bali as the hedge fund, which has been suspended on the run from authorities, continues to collapse.

In the year Davies, who has been in bankruptcy proceedings since 3AC collapsed in 2022, was sentenced to four months in jail for failing to cooperate with the bankruptcy investigation in Singapore.

A source, who wished to remain anonymous, provided Cointelegraph with footage of Davis with an unidentified woman at the Milk and Madu Cafe in Canggu, Bali on November 8. In addition, various sources have confirmed the ongoing bankruptcy proceedings in Singapore. 3AC co-founder is based in Indonesia.

The images, which have been banned from publication, are strikingly similar to several photographs Davis has posted online over the past two years.

The witness said Davis seemed “alive, safe and happy” and once he suspected he might have been recognized, he tried to hide his visa. The featured images show Davis in his signature pink collared shirt and sunglasses.

“It's 100% him. I saw him in his eyes without the shirt and glasses. Then when he felt like we knew him, he put the glasses on and continued to put them on until we left the place, and he took it from the cashier's point of view,” the source told Cointelegraph.

Davis' co-founder Su Zhou was arrested in Singapore on September 29 as he tried to flee the country after 3AC liquidator Teneo obtained a civil court order that sent both founders to jail earlier in the month.

According to the New York Times, the couple spent months in Bali instead of cooperating with bankruptcy proceedings in the US and Singapore.

A Cointelegraph source involved in the ongoing case in Singapore said Davis' arrest was based on the cooperation of Balinese authorities.

Davis successfully avoided US contempt charges in the country's bankruptcy case after marrying a Singaporean in 2022 and relinquishing his US citizenship.

Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York ruled that, based on evidence presented by Davis' legal representatives, the court “cannot grant jurisdiction over Mr. Davis.”

The judge hinted that foreign representatives could seek Davis's compliance through Singapore's courts. He dismissed the contempt motion and said the US court largely “cannot have jurisdiction over Mr. Davis.”

Davies' arrest and four-month jail sentence in Singapore stemmed from an order upheld by a Tenn court.

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