Chinese billionaire arrested in U.S. over sexual misconduct

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Chinese Billionaire, Richard Liu, was arrested late Friday after being accused of sexual misconduct. The #MeToo movement that has highlighted sexual misconduct has derailed the careers of well known entertainers, corporate executives and politicians in the United States and other countries, and has begun to find traction in China too.

"The local police quickly determined there was no substance to the claim against Mr Liu", the statement read, "and he was subsequently able to resume his business activities as originally planned".

-Chunying Zhang in Shanghai contributed to this article.

Jail records did not provide details on Liu's arrest or the alleged incident, and police said they could comment because it's an active investigation. He declined to provide details of the arrest.

Mr Liu, also known as Richard Liu, was released on Saturday afternoon, having been arrested late on Friday in the city of Minneapolis in Minnesota.

China's Foreign Ministry said Monday it had launched an investigation into the circumstances of the chief executive's arrest.

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

JD.com, one of China's tech heavyweights, competes with larger rival Alibaba Group, and Liu has a net worth of $7.9 billion, according to Forbes.

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

"Such allegations about Liu Qiangdong sexually assaulting female students are inaccurate, and the CEO will continue his trip in the U.S. as planned", said the statement, adding JD.com will take legal action against "false reports and rumor mongering". It appeared to contradict United States police by adding authorities found no evidence of misconduct and released Liu to continue his trip.

At 24, she became China's youngest female billionaire in 2017. He tried to distance himself from a sexual assault that was said to have taken place after a 2015 party at his penthouse in Australia.

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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