Founder of Faraday Future, Jia Yueting Failed to Pay the $ 34 million Fine on Time

Recently, due to failure to fulfill the payment obligation determined by effective legal documents on time, Jia Yueting has been issued a new consumption restriction order.

The applicant is the China Securities Regulatory Commission and it involves an administrative non-litigation enforcement case. Previously, Jia Yueting was forced to execute more than RMB 240 million (USD 33.7 million) in this case and his equity has been frozen several times

After announced that “Mr. Jia will return to China next week,” Jia Yueting has been in the United States for six years. After experiencing a series of disputes such as Evergrande’s dispute, delisting warning, and control rights struggle, Faraday Future (referred to as FF below), which was founded by Jia Yueting himself, is no longer just a “PPT car” . On May 31st local time in the United States, Faraday Future held a press conference and officially announced the start of production of its first electric car FF91.

SEE ALSO: Faraday Future Announces the Price of FF 91 2.0 Futurist

Since the new car has not been delivered yet, it is unknown how its quality and driving experience will be. Many people can’t help but ask Mr. Jia, who is about to turn 50 years old: Can he pay off China’s debt by selling cars in America?

Jia Yueting is currently associated with 4 executed person information in China, with a total amount of over RMB 2.2 billion. At the same time, he has also been listed as a dishonest executor for violating the property reporting system and refusing to perform effective legal obligations despite having the ability to do so, with a total amount of more than RMB 9.8 billion unpaid (USD 1.4 billion). The equity holdings of several companies held by Jia Yueting have also been frozen.