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Luckin Coffee faces fine from Chinese regulators for sales fraud, unfair competition

( August 3, 2020, 08:12 GMT | Official Statement) -- MLex Summary: Coffee-shop chain Luckin Coffee is facing a fine from China’s Ministry of Finance for booking 2.25 billion yuan ($322.6 million) of sales via fake coupons from April 2019 to the end of last year, the ministry said in a statement, without disclosing the amount of the penalty. The State Administration for Market Regulation said in a separate statement that it would also take action against Luckin Coffee, after an investigation found the company gained an unfair competitive advantage through sales fraud.The statement follows:...

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