Starbucks rival Luckin Coffee fires CEO in fraud scandal

Beijing (AFP) – The chief executive of Luckin Coffee, a chain rivalling Starbucks in China, and another top executive have been sacked in the wake of a massive fraud scandal that has rocked the company.Jenny Zhiya Qian, the CEO, and chief operating officer Liu Jian were terminated from their positions as part of an internal investigation into fabricated transactions, Luckin Coffee said in a statement on Tuesday.The board of directors made the decision after a special committee conducting the probe brought “evidence that sheds more light on the fabricated transactions,” it said.Both also resign…

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