JD.com CEO Richard Liu was arrested in Minneapolis on suspicion of rape


Chinese tech CEO Richard Liu arrested, then released in US

Richard Liu, the billionaire founder and CEO of Chinese language tech firm JD.com, was arrested final week following a rape allegation, Minnesota police stated Tuesday.

The report launched by the Minneapolis Police Division sheds extra mild on Liu’s arrest on Friday, which catapulted the chief of China’s second largest e-commerce firm into headlines around the globe.

Police had previously said that Liu, 45, was arrested on suspicion of sexual misconduct, however did not present additional data. In keeping with the report launched Tuesday, he was arrested on suspicion of rape, highlighting the seriousness of the allegation towards him.

Liu, who denies any wrongdoing, was launched Saturday with out cost and with out having to submit bail. He has since returned to China, the place he attended a JD.com (JD) event in Beijing on Monday.

In response to the information that Liu was arrested on suspicion of rape, considered one of his attorneys, Joseph Friedberg, advised CNN on Tuesday that his shopper hasn’t been charged with any crime, wasn’t required to submit bail and did not must give up his passport.

JD.com has stated beforehand that Liu was falsely accused. In response to a request for remark Wednesday, the corporate referred again to its statement from Monday that famous that Liu had returned to China after being launched with none fees and with out requirement for bail.

Minneapolis police spokesman John Elder advised CNN on Tuesday that the investigation is constant. The police report, elements of that are redacted, says that Liu was arrested with out a warrant by a police officer carrying a physique digital camera.

Richard Liu mugshot
Richard Liu was arrested on Friday in Minneapolis and launched with out cost on Saturday.

Liu was in Minneapolis for a residency as a part of a doctorate program in enterprise administration on the College of Minnesota’s Carlson College of Administration. Apart from confirming Liu’s participation in this system, the college has declined to remark additional.

This system is for “top-level executives” working full-time in China. The present members have labored for about 20 years and have a median age of 50, in response to the college’s web site.

JD.com is China’s second-largest on-line purchasing website after Alibaba (BABA). It has been listed on the Nasdaq since 2014 and is price greater than $40 billion.

JD’s shares fell 6% on Tuesday, their first day of buying and selling since information of Liu’s arrest emerged.

Liu started building his business about 20 years in the past. JD’s website sells all the pieces from home equipment and clothes to groceries and has a sprawling logistics community for fast supply.

Main buyers embody Walmart (WMT), which owns a 10% stake, and Chinese language tech big Tencent (TCEHY), which holds 18%, in accordance JD’s newest annual report.

The enterprise has made a fortune for Liu, who has an estimated internet price of round $7 billion, in response to Bloomberg.

He owns almost 16% of the corporate’s shares and controls just below 80% of its voting rights, giving him big sway over key selections.

— Nanling Fang and Sherisse Pham contributed to this report.

CNNMoney (New York) First revealed September 5, 2018: 12:55 AM ET

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