Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee

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Behind the Fall of China’s Luckin Coffee: a Network of Fake Buyers and a Fictitious Employee
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Luckin Coffee shocked investors in April by admitting to faked revenue. Now, corporate records show what was going on inside the the highflying challenger to Starbucks.

The highflying Chinese tech darling soared in value before admitting to revenue fabrication. Records show that bulk purchasers of its products included firms linked to the chairman and controlling shareholder.

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