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Published 4 years ago

China fines Luckin Coffee, associated firms combined $9 million

Summary by OAN
September 22, 2020BEIJING (Reuters) – China’s markets regulator said on Tuesday it has fined a group of 45 firms including Luckin Coffee a combined 61 million yuan ($8.98 million) for acts linked to Luckin’s falsification of financial records and misleading of the public. China’s finance ministry said earlier this year that Luckin booked 2.25 billion of sales through fake coupons from April 2019 to end of 2019.

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