Freezing of assets set to decrease investor confidence in Leshi unit

With 15.9 billion yuan ($2.34 billion) worth of stocks frozen by a court, Chinese billionaire Jia Yueting and his internet company LeEco are facing a "bigger than ever" crisis.

Leshi Internet Information and Technology Corp, the listed video-streaming unit of LeEco, said in a filing on Tuesday that unpaid debts prompted a local court to freeze its founder Jia's 519 million shares, around 26 percent of Leshi's stock.