Founder and former CEO of LeEco Mr. Jia Yueting, has been added to the blacklist of debt defaulters in China. Mr. Yueting failed to settle the debt of around $72 million to owed to the Ping An Securities Group, an investment company that belongs to China’s second-largest insurer. His name is now listed among other debt defaulters on shixin.court.gov.cn and can easily be seen by anyone due to his popularity. Also included in the list are the two subsidiaries LeEco, LeShi Holding and LeShi Yidong.

In 2013, China’s Supreme Court started making name of debt defaulters public in order to shame them. As part of their punishment, those found on the list are ban from travelling by airplane or use first-class service on bullet trains in China. Also they are ban from using other luxuries such as premium hotels and golf courses. The are not allowed to invest in properties and their children are barred from studying at private schools.

Yueting had a net worth of $6 billion two years ago, but it has reportedly fallen to $3.8 billion in March this year.

Source: http://www.techchairman.com/2017/12/leeco-founder-jia-yueting-added-to.html

All this stinking rich people no like to dey pay back money

Lol that is why they are rich.

omololu2020:
All this stinking rich people no like to dey pay back money

TechZiga:
Lol that is why they are rich.

exactly.

Wow. Bad news for the leEco brand and their wonderful and affordable smartphones

You are right

Franky826:
Wow. Bad news for the leEco brand and their wonderful and affordable smartphones