This article details the ongoing legal and financial crisis surrounding Leshi Network and its founder, Jia Yueting. While Jia Yueting posts emotional videos from abroad expressing longing for home, his company faces serious fraud charges in China. Prosecutors allege Leshi engaged in fraudulent activities over an 11-year period to secure stock listings, deceiving regulators and investors. The case has left approximately 280,000 shareholders with severely devalued or worthless assets, awaiting justice and potential compensation. Amidst this, Leshi is employing controversial financial strategies, such as a 1.8 billion yuan stock investment plan, to generate revenue despite carrying over 238 billion yuan in liabilities. The company is also entangled in legal disputes with former partners, further complicating its path to stability. The situation underscores broader issues of corporate governance, investor protection, and accountability in China’s financial markets, with many stakeholders calling for Jia Yueting’s personal return to address the mounting grievances.
Jia Yueting’s Emotional Plea: Leshi Network Fraud Case Leaves 280,000 Shareholders Awaiting Justice
