LeEco Mobile ordered to pay $79.07 million to Leyu Funds

January 31, 2019 1:59 pm

According to Cailian Press, the judgement against LeEco's mobile division has come with an order to repay a loan of $79.07 million to Leyu Funds, including interest. The founder of LeEco, Jia Yueting, is liable for joint guarantees. If LeEco does not fulfill its payment obligations, Leyu Funds has the right to recoup the money by selling at a discount rate or auctioning 39.63% of Leshi Chuangjing, a LeEco subsidiary.