Following a period of financial uncertainty and legal struggles, LeEco chairman Jia Yueting has refused a demand from regulators to return to China.
Jia is said to owe hundreds of millions of dollars in unpaid loans. Speaking on social media, he stated that he intends to remain in the US and focus on Faraday Futures, the firm’s electric car business, leaving his brother and wife, who live in China, to act on his behalf.
Jia also took the opportunity to point the finger of blame at one bank in particular, which apparently sued him “a mere two weeks” after the due date of a $30 million interest payment.
