LeEco founder punished for ignoring Beijing court order

Jia Yueting, the founder of internet company LeEco, has been placed on a national list of defaulters after failing to comply with a court order.

The entrepreneur was told to pay Ping An Securities about 465 million yuan ($70.2 million) on Sept 28 after a hearing at Beijing No 3 Intermediate People’s Court, according to a website operated by the Supreme People’s Court.

Jia was also ordered to pay a fine for breaking a contract and failing to pay notarization and legal fees. So far, he has not paid up.

Since 2013, the names and ID numbers of defaulters and the details of their cases have been disclosed online, to encourage them to comply with court rulings.

Those listed face restrictions in their daily lives, such as a ban on the purchase of flights or high-speed train tickets.