Luckin Coffee is a painful reminder of ‘the extreme fraud risk’ of some China-based companies

A barista packs a coffee for online sales at a Luckin Coffee store in Beijing, China July 17, 2018.

Jason Lee | Reuters

Here we go again.

It sounds outrageous: The chief operating officer of Luckin Coffee, the largest domestic coffee chain in the China, was accused by his own company of fabricating much of its reported sales in 2019.

Luckin also said that certain costs and expenses were…

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