A Chinese court has frozen millions of dollars in assets belonging to embattled tech conglomerate LeEco, dealing another blow to the company as it struggles to stay afloat.
An order issued by the court backed up a request by China Merchants Bank to freeze Rmb1.24bn ($180m) of assets from three LeEco subsidiaries as well as the personal assets of LeEco founder Jia Yueting and his wife Gan Wei, LeEco confirmed.
The assets were frozen because of missed interest payments on a loan taken out by LeEco’s mobile phone subsidiary, the company added.
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