Entrepreneur Too Dishonest for His Own Bankruptcy, U.S. Says (1)

Dec. 18, 2019, 10:01 PM

The founder of Faraday & Future has been so “dishonest” in his personal, $3.8 billion, bankruptcy that control of his assets should be turned over to a court-appointed trustee, the office of the U.S. Trustee said in court papers.

  • Yueting Jia fled China in 2017 after billions of debt that he wracked up starting several companies went unpaid
  • Because of Jia’s “untrustworthiness, mismanagement of his financial affairs, and breach of his fiduciary responsibilities, the court should direct the appointment of an independent disinterested person to serve as Chapter 11 trustee,” lawyers for the federal bankruptcy watchdog said in court papers...

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