Monday, 19 November, 2018

Probe JD.com CEO over sexual misconduct accusation

Chinese billionaire arrested in Minneapolis Liu Qiangdong, CEO of Chinese tech giant JD.com, in sex assault probe
Ebony Burgess | 03 September, 2018, 19:13

The billionaire CEO of Chinese e-commerce giant JD.com Inc (JD.O), Richard Liu, was arrested in the us state of Minnesota on suspicion of criminal sexual conduct and later released, and police said an investigation is ongoing.

Liu, 45, was released Saturday afternoon pending possible criminal charges, Hennepin County Jail records show.

A Chinese billionaire was arrested in Minnesota on suspicion of criminal sexual conduct, police said Sunday.

Minneapolis police spokesman John Elder said Sunday that he couldn't provide any details because the investigation is considered active.

JD.com said Liu had been subject to a false accusation while in the US on business, and "local police quickly determined there was no substance to the claim".

JD.com, the company in which Liu has a large controlling stake, told the Reuters news agency on Monday that he was back in China and back at work.

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. He was released after 4 p.m. Saturday, with records showing no posted bail. Liu will continue his business trip as planned, the company said.

Trump continues to bash Canada amid NAFTA negotiations
The Canadian dollar weakened to C$1.3081 to the United States dollar after news of the talks' lack of a result first broke. Lighthizer added that trade negotiations are expected to continue on Wednesday next week with both Mexico and Canada.

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

JD.com denied the charge against Liu.

In that case, Liu had hosted a party in late 2015 at his luxury home in Sydney, after which one of his guests accused another guest of sexually assaulting her at a hotel.

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. The defendant was found guilty of seven offenses, according to a court document.

This is not the first time Liu has been embroiled in a sexual misconduct incident.

The firms will marry JD's supply chain and logistics experience with Google technology to create "next generation" personalised retail service in regions including Southeast Asia, the United States and Europe, both companies said in a statement.

He has a sociology degree from Beijing's prestigious Renmin University and is a delegate to the Chinese People's Political Consultative Conference (CPPCC), an important advisory body to the government.

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