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Jia Yueting entrusts his wife, brother to settle debt issue

Catherine From Gasgoo| January 02 , 2018

Jia Yueting China, LeEco Jia Yueting, Jia Yueting blacklist, China auto news

Shanghai (Gasgoo)- On Tuesday, Jia Yueting, founder of LeEco, posted his response to the order from Beijing Regulatory Bureau of the China Securities Regulatory Commission, which asks him to come back home before the last day of 2017.

The statement says that Jia made a detailed feedback letter upon receiving the order and that he has entrusted Jia Yuemin, his brother, to go to the department for face-to-face communication.

In the statement, Jia said he felt terribly sorry for the consequence brought by LeEco’s financial crisis to the society, the government, investors, suppliers and the staff. He will try his utmost to solve the debt issue and make up for the losses.

After the discussion with the listed company, they have reached a consensus for debt settlement. Jia will perform the shareholder’s responsibility and settle the debt issue of the listed company by selling assets and mortgaging assets. Jia will also assume all of the unlisted company’s debt to the listed company, which is not supposed to be covered by only one shareholder of the limited liability company.

Jia confirmed in his statement that Faraday Future has made great progress in financing. For the moment, he was needed to ensure FF 91’s production and on-time delivery. He has entrusted his wife and his brother to exercise the power and fulfill the obligations of a shareholder. 

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