What happened: E-commerce platform JD has announced that its CEO, Richard Liu, has returned to China after being arrested in the US on criminal sexual conduct. Liu was released without charges or bail by the Minneapolis police while the investigation is still in progress. JD has stated that the accusation is unsubstantiated.
Why it’s important: Liu’s arrest has gripped the online public in China with many speculating on the future of the billionaire’s business and the relationship with his famous wife Zhang Zetian. Recently, Liu had a connection to another sexual assault case in Australia where the wrongdoer was an acquaintance of Liu. The two cases have now brought attention to the e-commerce giant, its lagging profitability, and its PR wars with rival Alibaba. Unsurprisingly, the Chinese internet has also swelled up with conspiracy theories.