Tag: #fake bank statements

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Luckin Coffee to Pay $180M Penalty in Settlement with SEC

On Dec. 16, the SEC announced that the accounting-fraudulent Luckin Coffee Inc. agreed to pay a $180 million penalty for previous charges concerning the company’s fabricated transactions.

12/17/20202 min read

#Featured #fake transactions

Industry Cross-border

Luckin Coffee and Complicit Companies Fined for Millions of Fake Transactions

China’s market regulator disclosed yesterday the penalty of fines of 2 million yuan ($300,000) each for Luckin Coffee and four other associated companies for their 123 million fake orders fabricated through fake transactions, fake bank statements and other illegal measures.

10/13/20202 min read

#fake transactions #fake bank statements