By WU Yangyu
JIA Yueting is no longer the executive officer of electric car start-up Faraday Future, the company he founded in 2014, according to a filing FF released on April 14.
The decision came after the company completed an internal investigation into allegations of fraud. Jia will remain the chief product and user ecosystem officer with his role limited to the product and mobility ecosystem, and technology.
The board has named vice president Matthias Aydt as the new executive officer. WANG Jiawei, former vice president, has left the company after months of suspension. Wang is Jia’s nephew. In 2014, Wang got his bachelor's degree and joined Leshi TV, Jia’s failed video streaming company.
The internal probe has lasted for a month, the company said it is yet to submit its fiscal report as it focused on the investigation. The NASDAQ has warned that FF must submit its report before May 6.
In July last year, FF merged with Property Solutions Acquisition Corp. A month later, J Capital released a short report on FF but the company failed to address the questions raised, including alleged fraud.
