Tycoon behind Luckin loses $1B after accounting scandal

The accounting scandal at Starbucks Corp.’s biggest competitor in China triggered a rout in shares linked to the company’s chairman, wiping out most of his wealth and knocking the tycoon out of the ranks of China’s billionaires.

Original Article Posted at : https://www.accountingtoday.com/articles/tycoon-behind-luckin-loses-1b-after-accounting-scandal