Things Just Keep Getting Worse For Chinas Fallen Tech Upstart Le. Eco. Le. Ecos dream of breaking into the US market and competing against Apple is now farther from reality than ever before. The Chinese tech firms American operation has had a difficult year with missed payrolls, disappearing employees, and overall poor sales. But the latest development in Le. Ecos financial woes is sure to make things go from bad to worse. In 2. 01. 6, rising Chinese tech star Le. Eco made an aggressive move to conquer the unfamiliar US market Read more A Chinese court froze 1. Lec. Eco founder and chairman Jia Yueting due to unpaid loan payments, according to The New York Times. The ruling also affected assets linked to Yuetings wife and three other Le. Eco affiliates. The Shanghai High Peoples Court made the ruling last week, which clamped down on the assets linked to loan for the Le. Ecos private smartphone brach, Le Mobile. Le. Eco began mounting debt in 2. US expansion by raising more than 6 billion. The heavy borrowing has taken a toll. Yueting admitted to shareholders last week that the company had made some mistakes with allocating funds. The cash problems at the non publicly traded businesses are more serious than when this crisis erupted, Mr. Jia told investors, according to a transcript. Our businesses are constantly using cash to repay loans, having a huge impact on their operations. Le. Eco has confirmed the frozen assets. According to the Times, the company has resources to cover the debt and will work with China Merchants Bank to repay it. The New York Times.