The $38.5M Mansion Flip: How a Crypto Wife Dodged Court Freezes

Tao Yaqiong, wife of disgraced hedge fund co-founder Zhu Su, just pulled off what might be the real estate flip of the year - selling her Singapore mansion for a cool $38.5 million despite court-ordered asset freezes. Talk about having your cake and eating it too.

I watched this whole saga unfold with equal parts fascination and disgust. Evelyn (as she's also known) bought this luxury pad back in 2020 for S$28.5 million - around $20.63 million at the time. Pretty nice purchase for someone whose husband's company would later implode spectacularly.

The property itself? A sprawling 15,568 square feet near Singapore's Botanic Gardens. After buying it, she renovated the whole place - probably using money that investors would never see again. The new owner is Chrispianto Karim, from the Indonesian palm oil family behind Musim Mas Group.

What's truly infuriating is how she managed this sale despite liquidators freezing $1.14 billion in assets. Her husband's firm crashed and burned owing creditors about $3.3 billion, yet somehow this mansion sale slipped through the cracks.

Remember when Zhu was tweeting about buying "all the good-class bungalows in Singapore" to turn them into parks? What delusional grandstanding from someone who was leveraged to the eyeballs! His company went from managing $18 billion to bankruptcy after the market crashed in 2022.

3AC bet big on LUNA and UST tokens - we all know how that turned out. When margin calls came knocking, they couldn't answer the door. Singapore's authorities eventually banned both founders from financial activities for nine years, and Zhu even faced jail time for refusing to cooperate in winding down operations.

The worst part? While thousands of investors lost everything, his wife walks away with millions from this property flip. Just another day in crypto, where those at the top somehow always manage to cushion their fall.