Breaking News

The founder of LeEco Jia Yuetin is listed in the black list of Chinese debtors

LeEco, which began an active international expansion a couple of years ago, continues to be in a very difficult financial situation. She withdrew from the purchase of Vizio, cut back operations in the US, severed ties with the Coolpad smartphone that created it, and even put up its own headquarters for sale. However, to pay off debts all these measures did not help. Two divisions of LeEco, LeShi Holding and LeShi Yidong, as well as the personal founder of Jia Yuehtin, were listed in the Chinese black list of debtors. So, Jia Yuetin was unable to pay $ 72 million insurance company Ping An Securities.


Chinese law does not spare non-payers. They are not allowed to fly by airplanes, go first class in high-speed trains, take expensive hotel rooms, book golf courses, invest in real estate and much more. Children of debtors are not allowed to study in private schools. However, Jia Yuethin all these measures are unlikely to affect, because he has long fled to the US and certainly does not plan to return to China.

No comments