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Founder of China’s embattled LeEco placed on debt blacklist

However, LeEco is currently facing its worst cash crunching situation. On Monday, the company suffered another blow when the billionaire founder was added to the blacklist of debt defaulters in China.

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The high-profile founder of struggling Chinese tech conglomerate LeEco has been placed on an official blacklist of debt defaulters, a further blow to a firm that had spent heavily to compete in.

The founder. of LeEco’s cash-flow problems, saying it led to the freezing of his assets and prompted a slew of early loan recoveries. He said "false and malicious" reports had impacted the business.

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Jia Yueting, the founder of LeEco has declined to return to China. Yueting was called back home to. Yueting maintains that LeEco was a profitable venture and he was placed on an official blacklist.

Jia Yueting (Chinese: ; born 15 December 1973) or YT is a Chinese billionaire businessman who is the founder of Leshi Holding Group and the CEO of Faraday Future. He previously founded LeEco and the Le.com subsidiary LeSports, and is the former chairman and CEO of Le.com as well as the former chairman of both Coolpad Group and Sinotel Technologies.

By Engen Tham and Adam Jourdan SHANGHAI (Reuters) – The high-profile founder of struggling Chinese tech conglomerate LeEco has been placed on an official blacklist of debt defaulters, a further blow to a firm that had spent heavily to compete in areas from smart cars to online entertainment.

The founder. LeEco’s cash-flow problems, saying it led to the free­zing of his assets and promp­ted a slew of early loan recoveries. He said “false and malicious” reports had impacted the business..

Embattled LeEco Founder Defies Beijing Order to Return to China. he was placed on China’s official blacklist of debt defaulters after failing to meet a court order to pay more than $71 million.

Leshi Internet Information & Technology Corp, the listed arm of LeEco, announced on Wednesday night that the company’s founder Jia Yueting has been placed on an official blacklist of debt defaulters.

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