China says its looking into e-commerce billionaire's US arrest

03 September, 2018, 19:13 | Author: Mable Gonzales
  • Chinese billionaire arrested in Minneapolis

Billionaire and founder Richard Liu returned to China on Monday after a brief arrest in the USA for alleged sexual misconduct., which stands for Jingdong, is the rival of the popular Chinese e-commerce site Alibaba Group led by CEO Daniel Zhang.

Mr Liu, one of China's richest people, was arrested in Minneapolis shortly before midnight on Friday and released on Saturday afternoon. He declined to provide further details.

John Elder, a spokesman for the Minneapolis Police Department, said, however, that "an active investigation" was underway but it was possible for Liu to leave the United States. said Liu had been subject to a false accusation while in the USA on business, and "local police quickly determined there was no substance to the claim".

Liu founded, one of China's leading e-commerce sites in 2004.

In addition, also threatened legal action against those publishing false reports and rumors. Liu was detained on Friday and released on Saturday.

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Elder said he did not know if Liu was being represented in the case by a lawyer. was quick to defend its leader, saying that law enforcement had grilled him over an "unsubstantiated accusation" and let him go when it determined there was "no substance".

In July, he lost a court battle in Australia to keep his name out of a sexual assault trial in which a guest at a party Liu had hosted at his luxury Sydney home in late 2015 accused another guest of sexually assaulting her at a hotel. "Mr. Liu has returned to work in China".

In June, Google announced a $550 million investment in the company.

There is also no clear successor to Liu, who is both chairman and chief executive, even as faces an escalating battle with Alibaba and has seen its shares fall 24 percent this year.

This is not the first time Liu has been embroiled in a sexual misconduct incident. In 1998, he spent 12,000 yuan ($1,760) of his savings to lease a four-square-metre retail space in Beijing's technology hub of Zhongguancun, setting up a firm that would become

Longwei Xu, a property developer, was later convicted of the crime. Liu grew up in a poor part of eastern China before attending the prestigious Renmin University in Beijing.



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