Scrutiny mounts on China's Luckin Coffee as market regulator inspects

), joining the country’s securities watchdog in doing so as the coffee chain comes under scrutiny for fabricating millions of dollars worth of sales deals.

Dozens of officers from the State Administration for Market Regulation raided Luckin’s main office in Beijing on Sunday, staying there from morning to evening that day, a source with direct knowledge of the situation told Reuters. The China Securities Regulatory Commission announced earlier this month that it would investigate claims of fraud at Luckin after it announced an internal investigation had shown its chief operating officer and other employees fabricated sales deals worth about 2.2 billion yuan .

Chinese stock fraud? The heck you say. ROTFMAO. This has been ongoing for decades.

They are inspecting NOW? Little late, don‘t you think?

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