JD.com Liu qiangdongAly Tune/Reuters

  • 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. 

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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.

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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. 

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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.

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