China's billionaire back home after arrest in US

Chinese billionaire arrested in Minneapolis

A Chinese e-commerce giant says its billionaire founder, Liu Qiangdong, has returned to China after earlier being arrested in the USA on suspicion of criminal sexual conduct.

Liu, also known by his Chinese name Liu Qiangdong, was arrested over the misconduct allegations late Friday and released Saturday afternoon in the midwestern U.S. city of Minneapolis, records from Hennepin County Jail showed.

Police said the investigation was active and would not confirm details of the arrest or the allegations against the 45-year-old billionaire.

The Minneapolis Police Department has not yet determined whether it will bring charges, spokesman John Elder told The Washington Post on Sunday.

Over the weekend, JD.com 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.

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The Chinese e-commerce firm JD.com has alliances with Tencent and Walmart.

"We will take the necessary legal action against false reporting or rumors", the company said.

"The individual was arrested Friday evening and released Saturday afternoon". Elder said it is his understanding that Liu is still in the United States. "Milk Tea Sister" and Liu met while they were studying in New York City and later married in Australia.

Both the name and birthdate of the person in the detention record matched that of Richard Liu.

"Mr. Liu has returned to work in China", a JD.com spokesperson said Monday.

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The arrest comes shortly after Liu was in the spotlight for another incident involving sexual misconduct.

Google recently made a $550 million investment in the Beijing-based company.

Liu's arrest comes as the billionaire is still trying to distance himself from a sexual assault that occurred at a party he hosted in his luxury Sydney penthouse in 2015. The accusation could also be a test of JD.com's stability, as well as the ability of a Chinese technology company to rebound from the problems of its leaders.

In return, JD.com will join Google's shopping platform. The defendant was found guilty of seven offenses, according to a court document.

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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