JD.Com CEO Detained in United States for Sexual Misconduct

Chinese billionaire arrested in Minneapolis

Chinese billionaire arrested in Minneapolis

JD.com, backed by Walmart Inc, Alphabet Inc's Google, and China's Tencent Holdings Ltd, said in a statement on Sunday that Liu, whose Chinese name is Liu Qiangdong, was falsely accused.

In addition to making Liu the highest-profile Chinese businessperson to be accused publicly of sexual misconduct, the case has raised concerns that loss-making Nasdaq-listed JD.com could face difficulties making decisions due to its unusual governance structure.

Like Jack Ma, Richard Liu made history in China with his rags to riches story.

"He has been released without any charges and without requirement for bail", a spokeswoman for the company said in a statement.

JD.com, the company which Liu founded in 1998, is an e-commerce juggernaut in China and the main competitor to industry leader Alibaba.

Later Sunday, Elder confirmed Liu was released from custody around 4 p.m. Saturday.

But, contrary to the company's statement, Minneapolis police have not actually cleared Liu of wrongdoing and have instead said that they are now investigating the allegation against him.

Chinese billionaire arrested in Minneapolis
US police arrest China shopping giant's CEO over misconduct claims

Minneapolis police spokesman John Elder told the AP that he couldn't give any details because the investigation is still active.

Hennepin County Jail records show he was arrested late Friday night and released Saturday afternoon pending possible criminal charges. "We are confident if we need to have further discussions with him, we will be able to have those discussions", Elder said. "He was released pending formal complaint".

Liu recently tried to distance himself from sexual assault allegations against a guest at a 2015 party at his penthouse in Australia. In addition, JD.com also threatened legal action against those publishing false reports and rumors. Bloomberg estimates his net worth to be about $7.3 billion.

Liu is the founder of JD.com, one of China's most popular e-commerce sites.

The company says it offers a "one stop" shopping experience to over 300 million active customers in China, with same- and next day-delivery as standard.

Liu is married to 24-year-old Zhang Zetian, an internet icon who rose to nationwide fame when a photo of her holding a cup of milk tea went viral.

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