- JD.com CEO Liu Qiangdong was briefly detained in Minneapolis, Minnesota, over a rape allegation in August.
- Since then, he has been absent from a number of high-profile occasions in China.
- Liu did not present as much as the World Web Convention on Wednesday.
- JD.com shares fell virtually 7%.
- Watch JD.com commerce dwell.
JD.com, the second largest Chinese language e-commerce website after Alibaba, fell almost 7% Thursday after CEO Liu Qiangdong, who’s the topic of a rape investigation within the US, did not present up at a significant state-sponsored web convention in China.
Liu was absent from the World Web Convention, which opened Wednesday in Wuzhen, China. In recent times, the occasion had been a gathering of Chinese language IT leaders, such because the founders and CEOs of Alibaba, Tencent, Baidu, and JD.com. This 12 months, Chinese language President Xi Jinping despatched a congratulatory letter that was learn on the occasion opening.
It was not the primary time Liu was a no-show at a high-profile occasion since he was briefly detained over a rape allegation in Minneapolis, Minnesota in August. Final month, Liu was not among the many high enterprise leaders invited to satisfy with Xi at a symposium. In late September, Liu additionally did not seem on the AI World 2018 convention in Shanghai.
Liu, a Chinese language billionaire, was arrested when he was collaborating in a enterprise administration course on the College of Minnesota. He was launched with out bail requirement. The allegation towards Liu claims that he pressured himself on a pupil after an evening of heavy ingesting, and raped the coed with out her consent. Liu, by way of his lawyer, has denied any wrongdoing.
Liu’s internet price sank has plunged 34% this 12 months to $6.2 billion, as JD.com shares have fallen sharply since peaking in January. Liu fell from the 16th place to 30th on Forbes’ lately revealed listing of China’s richest individuals.
JD.com was down 48% this 12 months by way of Thursday.