An investigation into the accounting misdeeds at Luckin Coffee Inc. has concluded that the company’s chairman knew—or should have known—about the fabricated transactions that inflated the Chinese coffee chain’s sales last year, according to a person familiar with the matter.
A report detailing the internal probe also said that Charles Lu, Luckin’s co-founder and chairman, didn’t fully cooperate with the investigation, the person said.
Is ‘Zoom’ on the radar?
Another Chinese company's fraud. What else is new? The American investors, the greedy and gullible who bought into this blindly, deserve it...
Who gives a
globaltimesnews Exaggerating in every sphere of life... downfall is approaching!
How is it CNBC-19 and others are not shut down for pumping the stocks and ceo's of leftwing frauds/communist frauds/green new deal frauds/more? Not holding frauds accountable just gets more frauds who are not accountable.
Wait, do you say China? That's impossible.
Lu and other were removed as directors in today meeting. Appointed two independent directors
Ohhhhh.. It's an L behind the raised fist, i thought it was an F... Was that shot on purpose?
Nope, Chairpersons are focused on corporate strategic execution, executive succession planning and retention, and certification of financials and auditing! CEO is the “cheerleader” in front of investors, and execution of Board certified strategy.
Chinese company, what do you expect?
He is a cheer leader on stage built by Wall Street, which means the street is responsible too.
A tip: look into all the Chinese listed companies.
Its a Chinese company, what do you expect. But with Trump move, these companies can now be subjected to accounting-quality check or audit same as local companies.
Coffee is the Devil's drink
When you read for a second 'fuckin Coffee'🤦
The sky is blue, the sun rises each day, Chinese companies rely on theft and fraud to compete.
The SEC is responsible for this and needs to be sued
If you invest in China you should not expect anything less. If you want to buy cheap goods, China is great. Usually. But don’t send your capital over there.
This quote of Deng Xiaoping from 1974 at UN may not be Xi Jinping's favourite. But it does come to mind. BoycottChina ChinaVirus coronavirus washingtonpost nytimes TIME ABC CBSNews NBCNews thehill China_Amb_India guardian Telegraph SkyNews
So how is he still the chairman?
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Source: WSJ - 🏆 98. / 63 Read more »