Jia Yueting faked again, and 25 billion went up in smoke!


Jia Yueting in the United States, another big news.On February 2, Faraday Future’s independent board of directors revealed in a self-inspection report that out of 14,000 orders Faraday Future received, only a few hundred orders had an advance payment, and the rest had no advance payment.This means that jia yueting mouth of 14,000 FF91 orders, the vast majority of fake.This news, jia Yueting again thrust into the center of the storm.Lawyers in the US are on edge, preparing a class-action lawsuit against Faraday Future.For all the legal action against Faraday Future, however, Mr Jia seems to be able to stay out of it.1. Since 2019, Jia Yueting has resigned as THE CEO of Faraday Future to serve as the chief Product Experience Officer.The position, apparently, was a placeholder, but he was still a member of the company’s management committee.More importantly, Mr Jia appointed his nephew, Wang Jiawei, as vice-president of global capital markets at Faraday Future, also on the management committee.Mr Jia remains in control of Faraday Future by controlling his nephew remotely and occupying two seats on management committees.At that time, Faraday Future could not do without Jia yueting, and Jia Yueting could not do without Faraday Future.However, after the self-inspection report came out, Jia was fined 25 percent pay cut.Mr Jia, meanwhile, reports to the new executive chairman;Jia’s nephew, Wang Jiawei, has also been suspended without pay.From these moves, Faraday’s future management is de-jia Yueting.Faraday Future’s board is also reflecting that the extent of Mr Jia’s involvement in Faraday Future may well have been underestimated.Thus, Faraday future is slowly abandoning Jia Yueting.Mr Jia, whose credibility has collapsed, has become a liability for Faraday Future.But Faraday Future cannot kick Jia out.Mr Jia also has an obligation to stay with Faraday Future for another four years, which was finalised by the company’s investors at the time before the IPO.Even if Jia yueting wanted to leave, he couldn’t for the time being!When Jia yueting declared bankruptcy in the United States, he owed more than 28 billion yuan in debt.His only asset at the time was Faraday Future stock.The best way to deal with $28 billion of debt is to convert personal debt into equity in Faraday Future.Mr Jia’s creditors received a 16 per cent stake in Faraday Future.Jia Yueting’s personal debt, so a purchase and sales, smooth escape.After creditors become investors, the only hope is for Faraday Future to go public.On July 21, 2021, Faraday Future successfully went public through a backdoor listing through a special purpose acquisition.It was around this time that Faraday Future announced it had 14,000 orders for the FF91.This news, of course, has confused investors in the United States, and it is not impossible to rule out that some American investors, seeing this news, went to buy Faraday Future shares.If this group of investors can provide enough evidence to file a class-action lawsuit against Faraday Future, it will make things worse for Faraday Future.Faraday Future is currently in turmoil, unable to file its third-quarter financial results and facing the risk of being delisted.However, all this, seems to have little to do with Jia Yueting.Mr Jia can walk away after four years at Faraday Future, when all the creditors’ shares are released.According to the debt-for-equity agreement, at that time the creditors will drop all lawsuits against Jia, both in China and abroad.Jia Yueting will also remove the identity of Lao Lai, the restoration of free body.He said he wanted to get Faraday Future right and get the FF91 into mass production as soon as possible.In fact, Faraday’s future success or failure had little to do with him.Of course, If Faraday Future can achieve mass production, turn a profit smoothly, and the stock price rises sharply, giving creditors a market value of 40 per cent of the debt, Mr Jia can get out early.In the present state of affairs, that is no longer possible.Iii. Faraday Future peaked when it was listed, with a stock price of $17 per share. At that time, Faraday Future’s market value was up to $5.5 billion, equivalent to more than 35 billion RMB.Today, Faraday Future’s shares have fallen to $486, giving the company a market capitalization of $1.576 billion, or about $10 billion yuan.Just six months after going public, Faraday Future’s $25 billion market cap has gone up in flames.The creditors’ 16 per cent stake, if kept until now, would be worth only $1.6 billion.Of course, creditors will not be so stupid as to sell any unlocked-down shares as soon as possible.They know better than anyone that Faraday Future’s share price is bottomless. There is no bottom, only lower.The 28 billion yuan jia owed at the time is now worth less than 1.6 billion yuan in market value. The creditors have really lost their bottoms.At Faraday Future’s current market value, it’s impossible for the creditors to pay back 40 percent of their debt.Jia yuting is not expecting this either. As long as he goes through the four years smoothly, he can retire in one piece.Four years later, creditors drop all lawsuits against him, and it is not impossible for him to return to the country.When the time comes, jia yuting will be back with his ex-wife, who is suing him for $4 billion, and his three children in his arms.Four, it can be seen that Jia Yueting is worthy of being an accountant and has amazing financial skills!Taking Faraday Future shares, converting individual debt, listing them in the United States, and letting American leeks pay off the debt, that’s quite an imaginative operation.Jia Yueting not only dares to think, but also dares to do, and is really capable of success.Let the Sheep and leeks of the United States, to replace their debts in China, there is no future do not know, before must be no ancients.If, as I said, he came back to China four years later and survived, it would be something of a miracle.After all, it is not easy enough to get into such a huge debt and hole without being doomed.Using the US capital market to dissolve his 28 billion yuan debt, Jia yueting is really capable of trouble!

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