Showing 3 of 3 posts with this tag
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.
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.
Full Truck Alliance, a Chinese digital freight platform, issued a statement on January 25 in response to a report by short seller firm J Capital Research, firmly denying allegations that it has overstated or falsified any operating or financial data.