E-commerce tycoon arrested

Sep 04, 2018, 01:03
E-commerce tycoon arrested

"If the board isn't quorate without Richard Liu, if he is unable to attend, and if there are no other provisions that offer a way round that, the company could become ungovernable", he said.

He was arrested on Friday night and released 16 hours later during a business trip in Minneapolis. "An investigation by local police did not find any evidence of misconduct, and he will continue his trip as planned".

The Financial Times, citing two people with direct knowledge of the matter, said the case involved Liu, 45, a student in a business program at the University of Minnesota, and a Chinese student at the school allegedly during a USA business trip. He declined to provide further details.

"The decision was made not to hold him in custody while we conducted the investigation", Elder told Fox 9.

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The company says it offers a "one stop" shopping experience to over 300 million active customers in China, with same- and next day-delivery as standard.

Following the Chinese media accounts, JD.com said on its official microblog that the reports were untrue.

As JD.com aims to spread beyond Asia, Liu has lately sought to raise his profile among global business leaders.

Liu, the 45-year-old chief executive and founder of the e-commerce giant JD.com, was released Saturday from the Hennepin County Jail, with booking records showing no posted bail.

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

JD.com said in a statement on Sunday on social media that Liu was falsely accused while in the US on a business trip, but police investigators found no misconduct and that he would continue his journey as planned.

His wife, Zhang Zetian, some 19 years younger, is a businesswomen and internet celebrity. It appeared to contradict USA police by adding authorities found no evidence of misconduct and released Liu to continue his trip. In 2015, a model said she was sexually assaulted by a man after they had partied at Liu's Australian penthouse.

Liu was apparently in Minneapolis because he is enrolled as a student at the University of Minnesota's Carlson School of Management in its Doctor of Business Administration China program.

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Longwei Xu, a property developer, was later found guilty of seven counts.

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