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Billionaire leader of China's JD.Com was arrested in Minnesota



BEIJING-Liu Qiangdong, the billionaire, chief executive of Chinese e-commerce giant

JD.com
Inc.


JD was arrested on Friday in Minnesota on suspicion of sexual misconduct but dismissed on a false charge. In the United States, Mr. Liu was interrogated by police in Minnesota on an unfounded charge. English: www.mjfriendship.de/en/index.php?op…=view&id=167. said the company on Sunday. "The local police quickly realized that the claim against Mr. Liu was not substantial, and he was then able to resume his business activities as originally planned."

The company said it released the statement in response to "rumors" Weibo without elaborating.

A person named Qiang Dong Liu, born on March 1

0, 1973, was arrested at 11:32. It is released Friday on suspicion of criminal sexual behavior and the next day without a deposit, according to the official website of the Hennepin County Sheriff Office.

The JD.com CEO, also known as Richard Liu, was born on March 10, 1973, showing records.

The Hennepin County Sheriff's Office said no one was available on early Sunday. Minneapolis is the district seat.

Earlier this year, Mr. Liu tried to keep his name out of criminal proceedings in Australia, where a man was charged with sexually assaulting a woman he met at a party in Mr. Liu's apartment in Sydney in 2015. [19659003] Mr. Liu was not accused of misconduct. He had applied for injunctive relief in the case, citing damage to his business and marriage. Mr. Liu is married to Zhang Zetian, known as "Sister Milk Tea," when a photo of her containing the drink became viral on the Internet.

Beijing-based JD.com offers online food and grocery delivery. His investors include

Tencent Holdings
Ltd.

, a key competitor to the e-commerce giant

Alibaba Group Holding
Ltd.

NASDQ-listed JD shares fell 28% this year. Tencent held an 18% interest in Mr. Liu in February 2018

Walmart
Inc.

the next largest shareholders, each with 17% and 10%.

In June, JD took over another prominent US firm as an investor, with

alphabet
Inc.

Google announced an investment of $ 550 million, which gave the company a 1% stake.

Mr. Liu founded the company in 1998 with 12,000 yuan of his savings. Initially established as a CD store, in 2004 he founded the online sales site JD.com after a SARS outbreak forced him to rethink his business model.

From a consumer electronics website, JD has moved from food to apparel products and differentiated itself from other Chinese e-commerce providers by building its own strong logistics network. JD, whose online shopping platform works in a similar way

Amazon.de
Inc.,

also operates its own consumer financing unit.

In its early days, the company attracted initial investment from investors such as Tiger Global Management and Sequoia Capital China. However, JD.com received its biggest boost in 2013, when Saudi investment company Kingdom Holding Company and its chairman, Prince al-Waleed bin Talal, invested Bin Abdulaziz Alsaud $ 250 million in the company. This share increased by 130% about a year later, on the first trading day of JD.com on Nasdaq.

Mr. According to Forbes, Liu is one of China's richest men with net assets of around $ 7.9 billion.

Write to Shan Li at shan.li@wsj.com


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