Developing | JD.com’s billionaire founder Richard Liu back in China after US arrest
JD.com founder Richard Liu Qiangdong has returned to China after being arrested for alleged sexual misconduct in Minnesota, where he was attending a business programme
“We were informed that our CEO Richard Qiangdong Liu was taken into custody by Minneapolis police on August 31, 2018,” JD.com said in a statement on Monday. “He has been released without any charges, and without requirement for bail. Mr Liu has returned to work in China.”
The e-commerce giant and Liu, the company’s chairman and chief executive, were among the hottest topics on Chinese social media following reports of that incident. According to the Hennepin County Sheriff’s arrest records, Liu was brought in at 11:32pm on August 31 and released the next day at 4:05pm on probable cause for criminal sexual conduct. In Minnesota, the term covers a range of non-consensual sexual contact.
China’s foreign ministry said on Monday that it was looking into the circumstances surrounding the arrest of Liu. The Chinese Consulate in Chicago was “closely following the relevant situation” and trying to verify facts regarding the situation, ministry spokeswoman Hua Chunying said at a news conference.
Nasdaq-listed JD.com’s share price was among the top topics on Weibo on Monday, with more than 600,000 searches as of 2pm on Monday. Its shares have declined 24 per cent this year, compared with a 17 per cent gain in the Nasdaq Composite Index. Trading in the US is closed for Labour Day.
The investigation is ongoing, but the police have not imposed any travel restrictions on Liu, according to Minneapolis Police Department spokesman John Elder. Liu was in the US to attend the residency component of a business-education programme conducted by the University of Minnesota.
Police have not outlined specific accusations against Liu, said Joseph Friedberg, who JD.com confirmed as representing the billionaire. Friedberg said his team was now awaiting details from the authorities before deciding on the next steps. He would not elaborate further.