Chinese Billionaire Returns To China After Minnesota Arrest

Chinese Billionaire Liu

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.

Richard Liu, CEO and founder of China's e-commerce company JD.com, speaks before ringing the opening bell at the NASDAQ Market Site building at Times Square in NY, U.S. May 22, 2014.

Liu, 45, was arrested on August 31, 2018 by the Minneapolis police for alleged sexual misconduct and released the following afternoon. He declined to provide details of the arrest.

"Such allegations about Liu Qiangdong sexually assaulting female students are inaccurate, and the CEO will continue his trip in the United States as planned", said the statement, adding JD.com will take legal action against "false reports and rumor mongering".

JD.com is among China's biggest online retailers and lauds itself as the first e-commerce company in the country to offer next-day delivery nationwide.

In addition, JD.com also threatened legal action against those publishing false reports and rumors. But he said he did not know the circumstances of the release and has not heard whether charges are on the way for Liu, who is also known as Richard Liu.

Following the Chinese media accounts, JD.com said on its official microblog that the reports were untrue.

United States and Mexico reach NAFTA overhaul deal, upping pressure on Canada
Mexican Foreign Minister Luis Videgaray told Mexican television on Tuesday the three sides would work for a three-way deal. Guajardo said "at the moment" the new rules governing exports of such light vehicles would "kick in" from January 2020.

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

Earlier this year, Liu attempted to suppress information about a sexual assault that occurred after a 2015 party at his Australian home. The defendant was found guilty of seven offenses, according to a court document.

Born into a poor farming family in northern Jiangsu province, Liu is arguably less well-known outside China unlike Jack Ma, Tencent Holdings' Pony Ma Huateng and Baidu's Robin Li Yanhong, who recently made to the cover of the Time magazine.

As JD.com aims to spread beyond Asia, Liu has lately sought to raise his profile among global business leaders. Liu wasn't involved, but he unsuccessfully asked the court to hide his name out of concerns for his business and marriage.

The arrest comes shortly after Liu was in the spotlight for another incident involving sexual misconduct.

Liu previously ran a chain of computer part stores in Beijing.

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