November 15, 2021 10:27 pm
Original Link: https://www.theverge.com/2021/11/15/22784038/faraday-future-fraud-investigation-j-capital-short-seller
Faraday Future launches investigation into financial fraud allegations
Faraday Future is launching an investigation into recent allegations of financial fraud at the startup, including claims from a recent short-seller report by J Capital. The EV startup’s board of directors has formed a “special committee of independent directors,” which has hired a law firm to perform the investigation.
J Capital had accused Faraday Future of lying about the number of reservations it had collected for its ultra-expensive electric SUV, the FF91. It also accused Faraday Future’s founder Jia Yueting of unfairly benefitting from the startup’s recent public listing, which it accomplished after merging with a special purpose acquisition company.
“Faraday Future seeks to do business in the most ethical and transparent way,” the...
Original Link: https://www.theverge.com/2021/11/15/22784038/faraday-future-fraud-investigation-j-capital-short-seller
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