Published: Mon, September 03, 2018
Global Media | By Derrick Guzman

Chinese tech billionaire busted over sex crime allegations

Chinese tech billionaire busted over sex crime allegations

Liu started the company that would become (JD.O) in 1998, spending 12,000 yuan ($1,760.54) of his savings to lease a 4-square-meter retail space in Beijing's technology hub of Zhongguancun.

Reports in China suggested 44-year-old Liu, who is worth $8 billion, was arrested for allegedly assaulting a Chinese student at the University of Minnesota.

Richard Liu, CEO and founder of China's e-commerce company, attends a France-Chinese forum on the applications of artificial intelligence at SOHO 3Q in Beijing, China January 9, 2018.

Over the weekend, released a statement on Weibo defending Liu, claiming that the company's founder had been falsely accused and that police had found that no misconduct occurred.

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

One of China's richest businessmen, Liu Qiangdong, has returned home after his arrest for alleged sexual misconduct in the USA over the weekend, with the foreign ministry here saying on Monday it is "closely following" the matter.

The Nasdaq-listed has made headway in its battle with e-commerce giant Alibaba by operating its own logistics network and providing Chinese customers with same-day or next-day delivery for many of their purchases.

The foreign ministry said it is looking into the circumstances surrounding Liu's arrest.

Minneapolis police spokesman John Elder said Sunday he couldn't provide any details because the investigation is considered active. The #MeToo movement that has highlighted sexual misconduct has derailed the careers of well known entertainers, corporate executives and politicians in the United States and other countries, and has begun to find traction in China too. denied the charge against Liu.

Liu is registered as a student of the University of Minnesota's Carlson School of Management's doctor of business administration China programme. The two tech firms plan to join forces to sell goods online across Southeast Asia, the United States and Europe in order to better compete with rivals like Amazon and Alibaba.

His wife, Zhang Zetian, some 19 years younger, is a businesswomen and internet celebrity.

Longwei Xu was found guilty in July of sexual assault after a jury found that he pinned the woman down and repeatedly tried to have sex with her during an hour-long ordeal at his hotel room in December 2015, Sydney Morning Herald reports.

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