AutoBeta(AutoBeta.net)11/05 Report--

Earlier, overseas media reported that Jia Yueting bought a 3300-square-foot California $3 million (21.14 million yuan) mansion in August before filing for bankruptcy, which is located on the Palos Vedes Peninsula in Los Angeles. not far from his coastal mansion.

In response to this matter, Jia Yueting's debt handling team issued an official statement saying that malicious rumors with ulterior motives, such as Jia Yueting's purchase of 3 million US dollars, are seriously lack of common sense. Please do not blindly follow and spread rumors.

Including the previously circulated transfer of equity, concealment or transfer of assets and other information, the team denied all. It also said that the statement on the bankruptcy agency EPIQ's website, as well as repeated revelations to the media, were actually very few creditors to deprive Jia Yueting of his FF stake at an ultra-low price, thereby controlling FF.

The full text of the response is as follows:

After Mr. Jia Yueting applied for bankruptcy and reorganization of his personal assets, recently there were malicious rumors with ulterior motives, such as "Jia Yueting bought luxury houses for 3 million US dollars, transferred equity, concealed or transferred assets," and seriously lacked common sense. Please do not blindly follow and spread rumors. The special response of the Jia Yueting debt handling team is as follows:

1. The rumor that Mr. Jia Yueting bought a luxury house worth more than 3 million US dollars in August this year is a false rumor. Mr. Jia Yueting has now filed for personal bankruptcy restructuring, and any so-called transfer of assets through bulk consumption or agents dates back to two years ago. According to the law of the United States, it is impossible to withhold any information.

2. With regard to the third party holding FF shares, it is completely reasonable, legal and actively disclosed public information, and Mr. Jia Yueting absolutely does not have any act of transferring or concealing assets. In July 2018, Mr. Jia Yueting transferred the FF equity held by the individual to a third party in accordance with the requirements of the investor; at present, all the economic income rights of the FF held by the third party are to be transferred to the debt repayment trust through West Coast LLC. Ocean View was disposed of as early as the end of 2017 because of FF's emergency funding needs and other reasons.

3. With regard to the recovery of 50 million yuan of debt from Jia Yueting by Shanghai lazy wealth, this is a tripartite debt between Letv Holdings, Taoyun Capital and Shanghai lazy wealth. There are a series of huge economic disputes between Letv Holdings and Tao Yun Capital, among which after Letv and Tao Yun Capital reached an easily accessible transaction agreement, Tao Yun Capital has not paid any transaction consideration to Leeco and completed the obligations agreed in the agreement, which has led to economic disputes involving billions of yuan, that is to say, Tao Yun took Yizhi away without paying a penny, which is a serious fraud. With regard to a series of economic disputes between Letv Holdings and Tao Yun, Letv Holdings has filed a lawsuit with the court one after another.

4. Recently, Jia Yueting's debt handling team found that in order to deprive Jia Yueting of his FF shares at ultra-low prices, and then control FF, they posted so-called statements on the bankruptcy agency EPIQ website and repeatedly made so-called revelations to unwitting media, and we strongly condemn their attempts to obstruct the smooth progress of bankruptcy reorganization, which has seriously damaged the interests of other creditors.

Jia Yueting debt handling team

November 5, 2019

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