On April 12, LeTV announced that it had received the "Administrative Punishment Decision" from the Beijing Securities Regulatory Bureau, which imposed a total fine of 241 million yuan on LeTV and 241 million yuan on Jia Yueting for financial fraud for ten consecutive years from 2007 to 2016.
The total fine of Letv and Jia Yueting is less than 500 million yuan, which is not the highest on record for the CSRC.In January, Jiuding Group and Jiuding Holdings were fined a total of more than 600 million yuan on suspicion of illegal information disclosure and securities trading using other people's accounts.In January last year, Lin Jun, chairman of Guangxi Mingli Group, and others were fined a total of about 1.76 billion yuan for manipulating Mingli shares.
However, due to the popularity of Letv and Jia Yueting, the fine still attracted attention. It was a hot search on Weibo. Netizens were very concerned about whether Jia Yueting, who is in a foreign country but will return to China next week, would pay the fine.
Jia, who has 16.39 million followers on Weibo, had not commented on the fine as of press time.His latest voice came on April 1, when he announced the appointment of FF Motors' nine-member board.