Chinese language enterprise magnate Richard Liu arrested in US on sexual misconduct cost


Richard Liu JD

Richard Liu, the billionaire founder and CEO of one in every of China’s largest e-commerce websites, was arrested in Minneapolis late Friday on suspicion of sexual misconduct, in response to police. mentioned in an announcement on Chinese language social media that Liu was falsely accused. The corporate mentioned police didn’t discover proof of wrongdoing after an investigation.

Liu was launched with out bail round four p.m. Saturday, in response to Minneapolis Police Division spokesman John Elder. He mentioned it was an “lively investigation” however that no formal criticism had been filed. He declined to supply particulars. (JD) is China’s second-largest on-line buying web site after Alibaba (BABA).

Liu based the corporate about 20 years in the past. JD has been listed on the Nasdaq since 2014 and has grown to round $45 billion valuation. The positioning sells all the things from home equipment and attire to groceries and has a sprawling logistics community for fast supply.

It is made Liu a fortune. Bloomberg estimates his net worth to be about $7.3 billion.

JD additionally has a analysis heart in Silicon Valley that focuses on machine studying and AI, in response to its web site.

Google (GOOG) just lately made a $550 million investment within the Beijing-based firm.The 2 tech corporations plan to affix forces to promote items on-line throughout Southeast Asia, america and Europe with the intention to higher compete with rivals like Amazon and Alibaba.

JD has formidable plans to tackle Western markets. Liu advised The Monetary Instances earlier this 12 months that JD plans to problem Amazon (AMZN) in Europe as early as 2019.

— CNN’s Sherisse Pham contributed to this report.

CNNMoney (New York) First revealed September 2, 2018: 7:39 PM ET

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