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Jia Yueting ordered to come back home before December 31

Amenda From Gasgoo| December 26 , 2017

Jia Yueting fundraising, Jia Yueting Faraday Future, Jia Yueting LeEco, Jia Yueting blacklist

Shanghai (Gasgoo)- Jia Yueting, LeEco’s founder, was ordered home before December 31 by Beijing Regulatory Bureau of the China Securities Regulatory Commission on December 26.

The bureau announced in a statement that the entrepreneur, which has been put on China’s national debtors blacklist earlier this month, shall fulfill his obligations as a company controller, cooperate to solve company issues and protect the legitimate interests of the investors.

Actually, in September, the bureau has already issued a statement that asks Jia to come back to China and deal with the risks as soon as he sees the statement. Afterwards, the bureau also conveyed the requirement via the listed company to Jia. Three months passed, but Jia hasn’t taken any action.

In July, Jia went to the USA after LeEco has been trapped in fiscal crisis for a longtime and Jia resigned as its president. At that time, Jia claimed that he would focus his attention on vehicle building. From then on, Jia turned up in Hong Kong rather than the mainland. As the debt problem related to the non-listed business hasn’t been solved, the time for his returning has attracted a lot attention.

Recently, it is reported that Jia announced at a Faraday Future (FF) internal meeting that the company managed to get 1 billion dollars. On December 25, Petroleum Authority of Thailand (PPT) denied the report that the company is the investor in FF’s A round fundraising.

What’s more, a LeEco staff confirmed that they had an internal meeting, but only a few executives knew details about the investment. 

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