WSJ News Exclusive | Luckin Coffee’s Accounting Scandal Thwarts Backer’s $2.5 Billion Fund

The accounting mess at China’s Luckin Coffee Inc. has forced one of its top backers to put off its fundraising plans.

Centurium Capital, a three-year-old Chinese private-equity firm that has a sizable investment in Luckin, has put on hold plans to raise a second fund with a target size of $2.5 billion, according to people familiar with the matter. Its decision comes after the coffee chain’s revelation that employees fabricated much of its 2019 sales.

I’m starting to think these scandals are going to drag all the big accounting firms with them

Luckin is just for money encirclement, only idiots trust a coffee shop can succeed in China where all ppl believe green tea is healthy and most never have a cup of coffee in life.

Why do i have 2 keep living in that cold house? I want 2 leave and go 2 Israel & make friends there. I really want 2 connect in my prayers, when i read, & deep in my soul. Im changing little by little but always progress. I want 2 know why everythin happened 2 me the way it did.

Well now you know for sure that Im not your servant or anyone else's in the entire world, not even a Jew's. I am G-d's servant. Just one of His many servants who just wanted to do something special for Him. I didnt know I am so loved by G-d!!

Oh gee the Chinese lost a few Billion--ok Where is Hunter Biden

As is the case with any chinese companies,chinese accounting manipulation is very often and the damage is very serious. Don't trust chinese accounting records.

Not so lucky after all ...

Is anybody doing any fundamental work any more? Seriously, can I get an amen here!

Luckin Coffee just sent new coupon to my account

Fruad is crime. It cost more than money.

Yeah, that’s reeeeeeaaaaallllllly costly.

China + scandal. lolz just another day in that lying sack of poop of a country.

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Luckin Coffee’s Accounting Scandal Thwarts Backer’s $2.5 Billion FundLarge investors including the Washington State Investment Board, the Ontario Teachers’ Pension Plan, Singapore’s sovereign-wealth fund and state investment firm Temasek Holdings previously made initial commitments to invest in the Centurium’s second fund. This article not at all motivated by instructions from your editors to run anti-Chinese propaganda. Guess they're shit outta Luckin.
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Source: WSJ - 🏆 98. / 63 Read more »

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