JD boss back at work after arrest in US
Chinese e-commerce giant JD said on Monday its founder and CEO, Liu Qiangdong, has returned to China and resumed work after his arrest in Minneapolis in the United States on suspicion of criminal sexual conduct. He was later released without charges or bail.
The Foreign Ministry said on Monday it is looking into the arrest of a Chinese citizen in the US. Ministry spokeswoman Hua Chunying told a news conference in Beijing the Chinese Consulate in Chicago is "closely following the relevant situation" and trying to verify the facts.
Liu Qiangdong, founder and CEO of Chinese e-commerce giant JD.com [File photo: VCG]
JD's American depositary receipts traded in Frankfurt, Germany, slumped 4.69 percent to 25.63 euros ($29.70) after the market opened on Monday. The US stock market was closed on Monday for the Labor Day holiday.
The company said in a statement on the social media site Sina Weibo on Sunday that Liu was falsely accused of sexual misconduct while in the US on a business trip.
It said local police found no misconduct and that Liu would continue his trip as planned. "We will take necessary legal action against false reporting or rumors," JD said.