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University spokeswoman Emma Bauer referred questions to the Minneapolis Police Department. China’s foreign ministry said its consulate in Chicago was closely watching the situation. “We are currently seeking information and verification from the relevant U.S. departments,” foreign ministry spokeswoman Hua Chunying told a regular Beijing news conference on Monday. SELF-MADE BILLIONAIRE. Chinese social media was abuzz over the arrest, with a thread on Liu’s police booking photo ranking as the most discussed topic on China’s Weibo platform on Monday morning, read more than 250 million times.
JD.com, one of China’s tech heavyweights, competes with larger rival Alibaba Group (BABA.N), and duke university needlepoint cufflinks Liu has a net worth of $7.9 billion, according to Forbes, The company, worth some $45 billion, has seen its stock lose 24 percent of its value this year amid concerns of weakening growth momentum, The company has been in and out of the red for the past year and last month reported a second-quarter net loss of $334.4 million - almost twice market estimates - reflecting increased investment, Liu built JD.com from scratch, In 1998, he spent 12,000 yuan ($1,760) of his savings to lease a four-square-meter retail space in Beijing’s technology hub of Zhongguancun, setting up a firm that would become JD.com, He is also known for his marriage to Chinese internet celebrity Zhang Zetian..
Zhang, described by Chinese media as 24, shot to fame while a student in 2009 when a photo of her holding a cup of milk tea went viral, giving her the nickname “Sister Milk Tea”. She met Liu while studying in the United States and married him in 2015. In July, a court in Australia denied Liu’s efforts to block the release of his name in association with a sexual assault trial in which he was not accused of any wrongdoing, according to a court document. 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. The defendant was found guilty of seven offenses, according to a court document.
BEIJING (Reuters) - A lawyer for JD.com Inc (JD.O) CEO Richard Liu, who was arrested on suspicion of duke university needlepoint cufflinks criminal sexual misconduct in the U.S, state of Minnesota and later released, said on Monday that Liu denies any wrongdoing, and also said he does not expect charges to be brought against his client, Earl Gray, a Minnesota-based lawyer, said Liu was released without charges or a bail requirement, and was able to return to China, where the e-commerce firm is based, “Under these circumstances based on our substantial experience in the criminal justice system in Minnesota charges are highly unlikely in the future to be brought against our client,” Gray said in an emailed statement..
BEIJING/SHANGHAI (Reuters) - Richard Liu, founder and chief executive of JD.com, has kept tight control of the business as he takes aim at the likes of Amazon.com (AMZN.O), but faces a battle on a new front after being arrested in the United States following an accusation of sexual misconduct. The Chinese company has said the accusation against Liu, 45, is unsubstantiated. Police in Minneapolis say they are investigating, though Liu was released after a night in jail, and JD.com said on Monday he had returned to China.
But the case is likely to put pressure on Liu, who has a reputation for a luxurious lifestyle but insists on a “clean” company, cracking down on counterfeit goods and corruption, “I think there is a duke university needlepoint cufflinks feeling in the company that we are morally superior to Alibaba,” a company insider said, adding that Liu was “aggressive” but “generally very well liked.”, Liu started the company that would become JD.com (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..
The firm, also known as “Jingdong,” got its name from a combination of part of Liu’s Chinese first name, Qiangdong, and that of his girlfriend at the time, Xiaojing. Liu frequently talks up his rags-to-riches story of growing up poor in Jiangsu province. He has said on several occasions that part of his motivation for setting up the firm was to help buy medicine for his grandmother. At first, the business was focused on opening brick-and-mortar stores selling mostly electronics. But Liu shifted online in 2004 after a SARS epidemic that forced him to shut down many of the locations.
That proved key to JD.com’s rise, culminating in its listing in the United States in 2014, JD.com is now China’s second-largest e-commerce player behind Alibaba, and Liu’s net worth is $7.9 duke university needlepoint cufflinks billion, according to Forbes, He has properties overseas and is married to Chinese internet celebrity Zhang Zetian, often referred to by her nickname, Sister Milk Tea, reported to be about 20 years his junior, They met when Zhang was studying in the United States, married in 2015, and now have a daughter..