BEIJING, May 12 (Reuters) – Faraday Future (FF), which reshuffled its management last month, said a recently completed internal investigation found that its leadership failed to “uphold integrity and ethical values” Promise of”. Faraday Future disclosed the “material deficiency” in its financial report in its third-quarter 2021 Form 10-Q filed late Friday. FF said at the time that senior management “failed to reinforce the need for compliance attitudes and internal control awareness with respect to certain of FF’s governance, accounting and financial policies and procedures” and that those failures resulted in the company’s “restrictions on certain relationships, arrangements and transactions”. Inaccurate and Incomplete Disclosure”. As for which transactions, Faraday Future did not clearly explain and did not continue to respond, but people familiar with the matter revealed that these transactions were partly related to Jia Yueting’s transfer of funds from the company to and from the company over the years. The investigation also noted that some employees concealed “their relationships with certain related parties and related entities in connection with the business combination and failed to fully disclose the relevant information.
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