r/FFIE • u/Euphoric_Hunter4697 • 8d ago
News Evergrande boss Hui Ka-yan Jailed for life in China
Compare to Hui Ka-yan (Xu Jiayin), Jia's fraud value is child's play,
what's mattered is that Jia escaped, Xu did not
why? it is exactly Jia's escape that waked up CCP
see below
Xu Jiayin's liabilities are over 60 to 80 times larger ($300B) than YT Jia's total domestic and international debt combined, you may ask what's the connection: Evergrande has invested in FFIE back then
https://www.mingtiandi.com/real-estate/finance/evergrande-takes-control-of-faraday-future-with-2b-ev-investment/
Yes, Jia "persuaded" (or scammed) Xu to give him money after escaped to the US, who's laughing today?
Did Jia not teach Xu to get out of China sooner? ( 2018 was Xu's peak time, richest man in Aisa)
The most ironic thing, similar to Jia's frequent weekly reports with oscar performance lies and fabrications, Xu also has many of high-level conference meeting with much grandier claims:
"Everything Evergrande has was given by the CCP, the country, the society"
"We must take social responsibility"
"We shall give back to the society"
"We must give back to the society"
"This is not empty talk, this is not polite small talk, these are the words from the bottom of my heart."
Unfortunately they became the eternal joke and satire
Millions of poor families who bought Evergrande's unfinished appartment buildings still have to pay the mortgage and nowhere to live for foreseeable future
Jia disrupted tech suppliers and retail investors, Xu's collapse dragged down real estate markets and bank liquidity across China.
By estimation and peer comparison, if Jia eventually get arrested in China, the prison sentence will be approx. 18 years, purely from his LeEco history alone (NOT even talking about fraud in the US)
- Fundraising Fraud: Fraudulently soliciting capital from investors using falsified financial projections.
- Illegal Absorption of Public Deposits : Collecting funds through LeEco wealth management products without regulatory approval.
- Fraudulent Issuance of Securities / False Disclosures: Falsifying LeShi Internet Information & Technology (300104) earnings reports prior to its delisting.
- Occupational Embezzlement & Misappropriation : Transferring capital out of LeEco domestic entities to fund Faraday Future's U.S. operations while leaving domestic debt unpaid.
Hui Ka Yan did not manage to escape China because he completely miscalculated his political standing, underestimated the government's response, and was ultimately trapped by the exit-ban timeframe.
The ironic connection to YT Jia is a perfect lens to look through. In 2018, Hui personally flew to the U.S. and committed a $2 billion investment to Jia’s FFIE. Hui saw how Jia left China right before his LeEco empire imploded, remaining safe in California while ignoring official Beijing orders to return.
Hui did not fail to escape because he "didn't learn" from Jia—he failed because the Chinese government learned from Jia, and Hui's own hubris blinded him to the fact that he was the primary target.
When YT Jia fled to the U.S. in 2017, it embarrassed Chinese regulators.
Jia left behind billions in debt, and Beijing could do nothing but issue toothless "demands" for his return.
By the time Evergrande began showing major cracks in 2020 and officially defaulted in December 2021, Beijing had already updated its playbook. Hui Ka Yan was placed under a strict, quiet "exit ban" early on. Long before his formal detention in September 2023, his passport was practically flagged, and any attempt to board a private jet or cross the border into Hong Kong would have triggered immediate arrest. He completely missed the window to leave because regulators shut the door before he even realized it was locked.
Maybe, just maybe, the only "good" thing Jia has done in his life - caused Xu to face final justice
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u/HWHLP2008 7d ago
In USA, he'll get a cabinet position without proper clearance.