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Accounting fraud

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China’s Luckin Coffee to pay $180 million fine in fraud case

By ELAINE KURTENBACHDecember 17, 2020 GMT

China’s Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges, the Securities and Exchange Commission says.

The SEC charged the company with defrauding investors by misstating its revenue, expenses, and net operating loss to appear to have been more profitable and growing faster than it actually was, and to meet the company’s earnings estimates.

Bernie Ebbers, ex-CEO convicted in WorldCom scandal, dies

By MALLIKA SENFebruary 3, 2020 GMT

The former chief of WorldCom, convicted in one of the largest corporate accounting scandals in U.S...

Charles Wang, former New York Islanders owner, dies at 74

October 22, 2018 GMT

OYSTER BAY, N.Y. (AP) — Charles Wang, a technology company founder and former owner of the New York Islanders hockey team, died Sunday...

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