View attached explanation and answer. Let me know if you have any questions.1FraudStudent’s NameInstitutional AffiliationProfessor’s NameCourseDate2FraudThe Luckin coffee company was found to have committed cash larceny fraud in April2020 in an attempt to overtake Starbucks in its expansive growth and locations. The Chinesebased Corporation managed to fabricate figures and swindle cash from the sales. Thefabrication of sales figures was done through the participation of management and cash stolenwhich was revealed from the conduction of internal audits. The chief executive officer ofLuckin coffee firm was indicted in the fraudulent cash larceny malpractices that led to thesignificant drop of corporation stocks. The sales malpractices necessitated to over 90 percentreduction of stock level to the organization encountering loss in sale…
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