The Chinese court freed President LeEco’s $ 182 million in assets

Payment for unpaid loans froze $ 182 million in assets linked to President Leeco, Jia Yueting in the Chinese court.
The People’s Court in Shanghai last week’s leasury-related loan facility, Leeco said on Tuesday in New York Times.
The frozen assets belong to LeEco chairman, his wife Jia Yueting and many LeEco affiliates, according to Xinhua.

LeEco’s spokeswoman told the Times that funds must cover the debt

This is the last of the financial hardships LeEco Jia began to disband publicly admitted last fall as an ambitious expansion in the US. LeEco retires from the beginning of 2016 means $ 6 billion, but so little refund for its investors is given, the Times said.

Last week, Jia told business owners LeEco, Leshi Internet Information & Technology, the company made errors in the allocation of funds. Citing the transcript of the Ryan McMorrow Times meeting and Owen Jia Guo, he wrote that his company admitted the problems worsened the money.

“The problem of money in non-public companies is heavier than the outbreak of the crisis, and our companies are constantly repaying cash loans to their business with tremendous impact,” said Jia, according to the transcript.

Spokesperson Leeco Business Insider did not respond promptly on a comment request on Tuesday night.
About $ 2,000 million of funds received from Leeco in 2016 comes from Chinese property developer Sunac China Holdings, who bought a stake in Leeco last year. Since then Leeco has settled in the United States about 70% of its employees and plans emphasize their business in the United States is growing, including the sale of 49 acres of the land of Silicon Valley less than a year after they are purchased at Yahoo.

Jia is still the largest shareholder and sponsor of the introduction of electric cars, headquartered in Los Angeles, Faraday’s future that looks for its business operations of $ 1 billion of potential investors for financing.