"Faraday Future paid a mix of monthly $100,000 'consulting' fees, a $2 million 'bonus payment,' and $1.7 million to repay loans from the company, which is called FF Global Partners LLC."
"The SEC was also investigating whether Faraday Future properly represented the level of control Jia had over the company when it went public in 2021, and whether it lied about early sales of its EVs in 2023."
Faraday Future made payments totaling $7.5 million to a company controlled by founder Jia Yueting in 2025, despite delivering only four vehicles and incurring nearly $400 million in losses. The payments occurred during an SEC investigation into related party transactions and the company's public disclosures regarding Jia's control. The SEC closed its investigation in March, despite earlier recommendations for enforcement action. The payments included consulting fees, a bonus, and loan repayments, with some amounts unexplained in the filings.
Read at TechCrunch
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