Tuesday, 4 July 2017

LeEco chairman 'has bank accounts frozen over debt'



The billionaire co-founder of struggling Chinese technology giant LeEco has had personal assets frozen by a Shanghai court, state media reports.

 
Assets worth a combined 1.24bn yuan ($183m; £141m) belonging to Jia Yueting, his wife, and three affiliates have reportedly been blocked.


The ruling follows LeEco's failure to pay interest due on bank loans taken out to fund its smartphone business.


Neither Mr Jia nor the company has commented on the reports.




BBC     News.