The Securities and Exchange Commission (SEC) has sent letters to Faraday Future founder Jia Yueting and president Jerry Wang, alerting them that they may soon face enforcement actions from the agency as the result of a three-year fraud investigation.
The letters, known as “Wells Notices,” state that the commission’s staff has made an internal determination to recommend an enforcement action against the electric vehicle company, the two executives, and two former employees who weren’t named, according to a regulatory filing published…
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