Chinese Billionaire Accused of Sex Misconduct Unlikely to Face Charges, Lawyer Says

Liu Qiangdong. also known as Richard Liu is the chief executive and founder of the e-commerce giant

China's foreign ministry said Monday it is looking into the circumstances surrounding the arrest of e-commerce billionaire Liu Qiangdong, also known as Richard Liu, in the us on suspicion of criminal sexual conduct.

He was arrested shortly before midnight on Friday and was released just after 4pm on Saturday, according to Hennepin county sheriff's office.

A Minneapolis police department spokesman declined to provide further details about the reasons for the arrest, adding authorities decided not to keep Liu in custody.

The company said he had been on a business trip in the United States when he was questioned about an "unsubstantiated accusation", according to a statement posted on Sunday to the Chinese social network Weibo.

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

Liu's company released a statement that denied he had done anything wrong.

Liu is married to 24-year-old Zhang Zetian, an internet icon who rose to nationwide fame when a photo of her holding a cup of milk tea went viral.

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A second JD.com insider said Liu was "lively" and highly motivated by competition.

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. Liu wasn't involved, but he unsuccessfully asked the court to hide his name out of concerns for his business and marriage.

The New York Times reported Liu has returned to China where he has become the talk of the nation.

Google recently made a $550 million investment in the Beijing-based company. The defendant was found guilty of seven offenses, according to a court document.

He attended the World Economic Forum in Davos, Switzerland for the first time this year and shared parts of his life story at the alpine gathering of executives, politicians and Hollywood celebrities. 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.

Liu is the founder of JD.com, one of China's most popular e-commerce sites.

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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