Dispute in arrest of Chinese billionaire

Inc. attends a news conference of the National People’s Congress and Chinese People’s Political Consultative Conference in Beijing on March 10

Chinese billionaire arrested in Minneapolis

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.

Liu, 45, was arrested on August 31, 2018 by the Minneapolis police for alleged sexual misconduct and released the following afternoon.

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.

The company said he had been on a business trip in the United States when he was questioned about an "unsubstantiated accusation", according to a statement posted on Sunday to the Chinese social network Weibo.

Police in the U.S. haven't released the name of the complainant but Chinese social media users circulated photos of a young woman whom they said was the victim.

Elder said he did not know if Liu was being represented in the case by a lawyer. The company had 292.5 million active customer accounts in 2017 and reaped a net profit of 50.8 billion yuan, or $US7.8 billion, in its 2017 fiscal year, the company said in its annual statement. He is worth an estimated $7.3 billion, CBS News reported.

Liu built JD.com from scratch.

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Zhang Shuhan, a JD.com official, said Monday by phone that "Liu Qiangdong has been released without charges and he is now back in China".

JD.com denied the charge against Liu.

JD said it planned to make a selection of items available for sale in places like Europe and the USA through Google Shopping, which allows shoppers to search for products and compare prices on different e-commerce sites.

Founded in 1998, the Fortune Global 500 company is China's second-largest e-commerce firm and an aggressive competitor of Alibaba. She met Liu while studying in the United States and married him in 2015. The defendant was found guilty of seven offenses, according to a court document.

Trade in JD.com shares is set to resume on Tuesday as US markets are closed for the Labor Day holiday on Monday.

Liu, who also goes by the name, "Richard Liu", is registered as a student in the University of Minnesota's Carlson School of Management doctor of business administration China program, the Minneapolis Star Tribune reported.

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