LeEco founder Jia Yueting included on dishonest list
According to the court, Jia failed to fulfil his obligations, including not paying Ping An Securities 462.1 million yuan plus 4.15 million yuan in interest
Jia Yueting, the co-founder and largest shareholder of LeEco, a Chinese multinational conglomerate maintaining ventures in consumer electronics, automobiles and film, has been included on the list of the dishonest by the Beijing No.3 Intermediate People’s Court, Yicai.com reported.
Noticeably, both LeTV Holdings Co. Ltd. and LeTV Mobile Intelligent Information Technology Co. Ltd. were put on the same list earlier in September, after failing to pay 107 million yuan (US$16.18 million) to related parties.
According to the Court, Jia failed to fulfil his obligations based on effective legal instruments, including not paying Ping An Securities the initial transaction amount of 462.1 million yuan, and 4.15 million yuan in interest.
Jia is also supposed to pay the company more than nine million yuan in liquidated damages, 1.43 million yuan in notary fees and 2.56 million yuan in lawyer fees.