JD.com's billionaire CEO released after US arrest

JD.com's billionaire CEO released after US arrest

The billionaire founder and chief executive of Chinese e-commerce firm JD.com, Richard Liu, has been arrested in Minnesota on suspicion of criminal sexual conduct.

Nasdaq-listed JD.com said in a statement Sunday that Liu was falsely accused while in the USA on a business trip, and that police investigators found no misconduct and he would continue his journey as planned. "The local police quickly determined there was no substance to the claim against Mr. Liu, and he was subsequently able to resume his business".

"The decision was made not to hold him in custody while we conducted the investigation", Elder told Fox 9. It showed Liu was "released pending complaint".

This is not the first time Liu has been embroiled in a sexual misconduct incident.

Liu Qiangdong, also known as Richard Liu, was visiting Minneapolis when police arrested him.

While the businessman himself has not issued any comment regarding the allegations or the goal of his trip to Minnesota, the University of Minnesota has confirmed that Liu was studying for a doctor degree and traveled to Minnesota to complete the residency part of his business leadership curriculum among other students.

The $45 billion company, the main rival to Chinese e-commerce giant Alibaba Group, said it would take legal action against "false reporting or rumors". The students were in the Twin Cities last week as part of their training.

Legal troubles for Liu could darken perceptions overall of JD.com, whose shares trade on the Nasdaq stock market in NY and have a market value of around US$50 billion.

In that case, Liu had hosted a party in late 2015 at his luxury home in Sydney, after which one of his guests accused another guest of sexually assaulting her at a hotel. The accusation could also be a test of JD.com's stability, as well as the ability of a Chinese technology company to rebound from the problems of its leaders.



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