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JD.com CEO Arrested in Minnesota on Suspicion of Criminal Sexual Conduct

Qiangdong Liu, known as Richard Liu, was arrested in Minnesota on suspicion of criminal sexual conduct and was later released.

CapitalWatch Staff
    Sep 02, 2018 11:01 AM  PT
JD.com CEO Arrested in Minnesota on Suspicion of Criminal Sexual Conduct

Chinese billionaire and chief executive officer of e-commerce giant JD.com Inc. (Nasdaq: JD), Qiangdong Liu, who is known as Richard Liu, was arrested in Minnesota on suspicion of criminal sexual conduct and was later released, Hennepin county sheriff jail records show.

The charge against Liu, 45, was made just before midnight local time on Friday, and he was released after 4 p.m. on Saturday, according to the Hennepin County Sheriff website. It showed Liu was "released pending complaint."

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Source: Hennepincounty sheriff's department website

A spokesperson for JD.com, Yang Song, quickly made a statement Saturday night on WeChat, claiming "Mr. Liu was questioned by police in Minnesota in relation to an unsubstantiated accusation."

"The local police quickly determined there was no substance to the claim against Mr. Liu, and he was subsequently able to resume his business activities as originally planned," Song said.

Minneapolis Police Department spokesman John Elder told Reuters that an investigation was ongoing and "we don't know if there will be charges or not because we haven't concluded an investigation."

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Mug Shot of Qiangdong Liu

Source: Associate Press

Founded in 2004 and listed on the U.S. markets since 2014, JD.com is China's second-largest e-commerce platform after rival Alibaba Group Holding Ltd. (NYSE: BABA). JD is Walmart's largest partner in China and commerce giant Tencent Holdings Ltd. (HKEX: 0700) has a big stake in JD.com as well.  

Liu is well known in China, with a net worth of $7.9 billion, according to Forbes.

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