Liu Qiangdong, the CEO and founder of Chinese e-commerce platform JD.com, was arrested on suspicion of rape last Friday, according to Minneapolis Police Department spokesman John Elder.
Elder confirmed that while an investigation into the case was still ongoing, authorities had decided to release the Chinese billionaire from custody and not impose any travel restrictions on him.
A General Offense Public Information Report was also released by the Minneapolis Police Department, confirming that the case was being treated as alleged rape.
Liu, also known as Richard Liu, returned to China on Monday?and resumed work on Tuesday, a statement published on the company’s website confirmed.
The company had said on China's Twitter-like Weibo platform on Saturday that Liu had been “questioned by police in Minnesota in relation to an unsubstantiated accusation.”
Liu,?45, was arrested in Minnesota on Friday night and "released pending complaint" on Saturday morning, Hennepin County Jail records show.
Earlier statements from Minneapolis Police had said Liu’s arrest had been made on the grounds of sexual misconduct, but Elder gave more details on Tuesday, confirming the alleged attack reportedly occurred at 1 a.m. on Friday morning.
While Liu was released without charge, Elder added that the police investigation was ongoing and that if any charges were made they would not be filed before Friday, upon completion of the investigation.
Liu’s Minnesota-based lawyer Earl Gray said in a statement Monday that his client denied any wrongdoing, and that he did not expect any charges?against him.?
On Tuesday, defense attorney Joseph Friedberg was quoted as saying “they are not going to charge in this case. There’s no credible complaint.”
The case has caused uncertainty among investors, with JD.com shares falling to an 18-month low on Tuesday on the Nasdaq index, closing down 6 percent.?
