China's founder returns to Beijing after US arrest

China's founder returns to Beijing after US arrest

China's founder returns to Beijing after US arrest

"If the board isn't quorate without Richard Liu, if he is unable to attend, and if there are no other provisions that offer a way round that, the company could become ungovernable", he said.

The Financial Times, citing two people with direct knowledge of the matter, said the case involved Liu, 45, a student in a business program at the University of Minnesota, and a Chinese student at the school allegedly during a US business trip.

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. Liu was never accused of any wrongdoing in that incident.

Liu, 45, was arrested on August 31, 2018 by the Minneapolis police for alleged sexual misconduct and released the following afternoon.

"We don't know if there will be charges or not because we haven't concluded an investigation", Elder told Reuters on Sunday.

Liu was in the United States on business when he faced questions about an "unsubstantiated accusation", according to a statement posted Sunday to the Chinese social network Weibo. He stressed that the case was still active and that "people can say whatever they like" without affecting the investigation.

Records from Hennepin county jail showed Liu, founder and CEO of Chinese online retail giant, was arrested over the misconduct allegations on Friday night and released Saturday afternoon.

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

Boasting backers that include Google, Walmart, and Tencent, the company claims 300 million active users and a net revenue of 362.3 billion yuan ($53 billion) in 2017. Liu was not charged or accused of any misconduct, however, he did end up losing a legal battle earlier this year to keep his name out of the records and the press.

Liu is married to Zhang Zetian, who at 24 is China's youngest female billionaire.

Longwei Xu was found guilty in July of sexual assault after a jury found that he pinned the woman down and repeatedly tried to have sex with her during an hour-long ordeal at his hotel room in December 2015, Sydney Morning Herald reports.

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