Chinese frauds, go away!
MUST-READ: www.cnbc.com/amp/2020/05/12/luckin-coffee-fires-ceo-coo-after-sales-fraud-investigation.html (estimated: 1 min) Luckin Coffee fires CEO, COO after sales fraud investigation (by Amelia Lucas)
Luckin Coffee fired its CEO and COO as part of an internal investigation into sales fraud.
On April 2, the Chinese coffee chain disclosed that an internal probe found that its chief operating officer had fabricated 2019 sales by about 2.2 billion yuan ($310 million).
Luckin’s stock has been halted for pending news since April 7. ⇢ Read more