More Creative Accountants From Cina ?

More Creative Accountants From Cina ?

Tencent, SoftBank-backed online property agency Beike refutes Muddy Waters’ ‘significant’ fraud claim

‘Similar to Luckin Coffee, this is a real business with significant amounts of fraud,’ US short-seller says

KE Holdings says it will debunk and reply to Muddy Waters’ claims one by one within 24 hours

  KE Holdings, which is backed by SoftBank Group and Tencent Holdings and is China’s largest online property agency, has refuted a claim of “significant” fraud made by US-based short-seller Muddy Waters Research.

The New York Stock Exchange-listed company, which is also known as Beike Zhaofang, was compared with disgraced Chinese start-up Luckin Coffee by Muddy Waters, which said on Thursday that KE had inflated new home sales by more than 126 per cent and commission revenue by between 77 and 96 per cent. The short seller also said the transaction volume and the number of stores and agents reported to investors had “massive discrepancies”.