Faraday Future founder files bankruptcy to pay off personal debts

Faraday Future founder files bankruptcy to pay off personal debts

A Faraday Future FF 91 electric car is displayed on stage during an unveiling event at CES in Las Vegas, Nevada January 3, 2017. REUTERS/Steve Marcus

Jia Yueting, an entrepreneur who ran up billions of dollars in personal debts trying to build a business empire in China, has filed for bankruptcy in the U.S. with plans to turn over his latest venture, an electric vehicle startup, to creditors.