Federal court freezes Faraday Future CEO’s ownership stake, California mansions
A federal US District judge in California has temporarily frozen Faraday Future CEO Jia Yueting’s ownership stake in the company, and put a protective order on the mansions he owns in California, according to new court documents filed Thursday. It’s the second freeze placed on Jia’s ownership stake in the company in the last two weeks. The decision comes at a time when the EV startup is nearly completely out of cash after a months-long clash with its main financial backer, Chinese real estate conglomerate Evergrande, that has resulted in hundreds of layoffs and furloughs.
The new freeze is a result of a lawsuit filed earlier this week in the central district court of California by a Chinese company called Shanghai Lan Cai Asset...
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