Beijing watchdogs to punish Luckin Espresso, associated corporations after confirming US$300 million accounting fraud


Source: autopresse.eu

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Beijing watchdogs to punish Luckin Espresso, associated corporations after confirming US$300 million accounting fraud 2020-07-31 14:19:09 Two Chinese language regulators plan to punish Luckin Espresso after their investigations confirmed a US$300 million accounting fraud by the chain as soon as touted because the nation’s reply to Starbucks.The Ministry of Finance has completed its investigation into two Luckin subsidiaries, in addition to associated corporations and 23 monetary establishments regarding the scandal, in accordance with an announcement on its web site on Friday night time.It confirmed the espresso chain, primarily based in Xiamen, Fujian province, fabricated gross sales of… Related