“New revelations Wednesday that Minnesota police arrested Chinese billionaire Richard Qiangdong Liu 刘强东 on suspicion of rape rather than assault have intensified scrutiny on the high-profile case as stocks in JD.com, one of China’s largest online retailers, plummeted,” report Danielle Paquette and Luna Lin of the Washington Post.
- Yesterday, we used the phrase “sexual misconduct” while some media reports used “sexual assault.”
- The Washington Post obtained a police report that “confirmed the specifics of the accusation against the technology magnate,” and “also indicated that body-camera footage was recorded.”
- The police say the investigation remains open. JD’s shares “have dropped 16 percent in the past two days, with its U.S. shares closing at $26.30 on Wednesday,” according to CNBC. “The stock has plummeted 37 percent this year.”
- Liu controls nearly 80 percent of the voting rights of JD and is both chairman and CEO. If he is in legal trouble, the company’s future is uncertain.
- More reporting:
- US law firms launch investigation against JD.com after rape allegations against CEO / The Diplomat (paywall)
- Billionaire JD.com founder Liu investigated for rape / FT (paywall)
- Richard Liu of JD.com was arrested on a rape allegation, police say / NYT (paywall)
- Arrest details revealed: JD boss Liu was accused of first-degree rape, say US police, as charges are considered / SCMP