LeEco’s Jia Yueting to resolve debt woes with wife’s help
Gan Wei claims they have paid the creditor, Leshi Zhixin, a subsidiary of Le.com, by transferring US$14.28 million of Le Mall’s core assets
Gan Wei, the wife of Jia Yueting, the Chinese technology tycoon who founded LeEco, said on her social media that there have been some substantial settlements of their debt issues over the last week, Yicai.com reported.
Previously, Beijing’s securities regulator had ordered Jia to return to China to deal with mounting debts. Jia responded with a social media post that his wife and brother in China will act on his behalf, as he needs to stay in the US to take care of his electric car business.
According to Gan, they have paid the creditor, Leshi Zhixin, a subsidiary of Le.com, by transferring a total of 92.9 million yuan (US$14.28 million) of Le Mall’s core quality assets. Le Mall is a fast-growing e-commerce platform, a subsidiary of LeEco.
Gan said they also sold their stakes in Coolpad Group to offset $HK807 million out of their HK$1.4-billion debt with the China Merchants Bank.
For the next step, Gan said, they will actively seek communication with the China Merchants Bank, hoping to thaw their frozen assets to a corresponding proportion in order to repay more debts.