Faraday Future Intelligent Electric Inc. shelled out $7.5 million in 2025 to FF Global Partners LLC, an entity under the significant influence of its founder Jia Yueting. The cash flowed amid a dismal year: just four vehicles delivered, nearly $400 million lost. Payments broke down into monthly $100,000 consulting fees, a $2 million bonus, $1.7 million loan repayment. The rest—$2.6 million—went unexplained in the proxy filing.
This revelation hit days after the SEC closed a four-year probe without action. That investigation had zeroed in on related-party deals, Jia’s control during the 2021 SPAC merger, and inflated 2023 sales claims. Faraday Future dodged enforcement, even after Wells notices went to Jia and executives in 2025. TechCrunch first detailed the payments from the April 28 proxy statement filed with the SEC.
Jia, blacklisted in China for financial fraud tied to his LeEco collapse, wields outsized power. FF Global, labeled an affiliate in filings, counts Jia among its five voting managers. His nephew Jerry Wang serves as Faraday president, pulls a six-figure salary from FF Global. Wang’s wife heads legal there; both consult for AIXC, a crypto firm Wang runs with Jia’s advice. FF Global holds major shares, jointly steering Faraday’s operations—a setup the company flags as a risk.
“Jia and FF Global, over which Mr. Jia exercises significant influence, have control over our management, business and operations, and may use this control in ways that are not aligned with our business or financial objectives or strategies or that are otherwise inconsistent with our interests,” Faraday warned in its latest annual report, per the TechCrunch report.
From SPAC Drama to Boardroom Intimidation
Faraday’s public debut via SPAC in 2021 sparked trouble fast. The board probed Jia’s fund shuffling and merger disclosures, sidelining him in early 2022. They referred findings to the SEC. FF Global fought back, pushing to oust anti-Jia directors. Threats escalated: multiple board members got death warnings, resigned in fear. Jia returned as co-CEO last year, now sole CEO.
These ties run deeper. Faraday paid $700,000 in 2025 to another Jia-linked loan firm. It owes $8.5 million to Leshi Information Technology, a LeEco remnant, for “advertising services.” No comment from Faraday on the latest disclosures.
China roots amplify scrutiny. Jia’s LeEco empire crumbled under debt in 2017, leaving him persona non grata back home. Faraday, once a luxury EV dreamer with the FF 91, now imports cheap vans and robots from China. Deliveries crawl. Stock trades as FFIE or FFAI on Nasdaq, volatile penny territory.
Recent Cash Infusions and Robot Pivot
April brought $45 million from a U.S. institutional investor, funds in hand by April 20. Jia hailed it as market faith post-SEC clearance. Cumulative financing hits $3.21 billion since inception, per Gasgoo. He pledged operational fixes, Nasdaq compliance in six months.
Robotics beckon. February saw $10 million equity from AIXC. EAI robots started deliveries; Jia updated on open-source platforms in late April, via StockTitan. Shareholder Day in January outlined FX Super One vans, EAI strategy bridging cars and bots.
But payments to insiders jar. Investors watch for dilution, control clashes. FF Global’s grip persists. Jia’s vision—grand as ever—clashes with reality. Four cars sold. $400 million gone. China imports. Yet funding trickles. SEC shadow lifted.
Board filings paint unease. FF Global orchestrated Jia’s comeback. Death threats lingered. Now, $7.5 million vanishes into the fold. Proxy details monthly fees, bonuses, loans. Silence on the rest. Risk disclosures scream conflict.
Faraday pivots hard. Vans from China. Robots teased. $45 million buys time. But Jia’s web—FF Global, AIXC, Leshi—tightens. Nephew Wang bridges firms, salaries flow. Control isn’t shared; it’s concentrated.
Market shrugs so far. Shares jitter. Retail buzz on X echoes TechCrunch. No panic. Yet. Questions mount: Who consults? What bonuses reward? Where’d the $2.6 million go?
Jia’s track record? LeEco’s ashes. Faraday’s slog. SPAC hype faded. SEC probe endured four years, closed clean. Payments? Business as usual, filings say. Insiders benefit. Company bleeds.
Watch the proxy. Watch filings. Jia’s back. Fully.
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