Liu Qiangdong was released after being arrested by the police in the United States on suspicion of sexual assault.JD.com claimed that the police found no wrongdoing, but the police said the investigation was ongoing.

Liu Qiangdong, founder and chief executive of Chinese internet and e-commerce group JD.com, has been arrested in Minnesota on suspicion of sexual assault.

The 45-year-old Chinese entrepreneur, known only as Richard in English, has founded one of China's largest e-commerce platforms, second in size only to Alibaba's Taobao.JD.com, which went public in New York in 2014, now has a market capitalization of $46 billion.

Liu Qiangdong is one of China's wealthiest businessmen, worth an estimated 70 billion yuan ($10 billion), according to the Hurun Report.

He was released from the Hennepin County Jail on Saturday after being arrested by local police, jail lists show.

The case, involving Liu and a Chinese student at the University of Minnesota, allegedly occurred while Liu was on a business trip to the United States, according to people familiar with the matter.

It marks the billionaire's second sexual assault case.The New York Times reported in July that Mr. Liu had hosted a party in Australia where an alleged sexual assault took place.He was not charged with any wrongdoing in that case.

JD.com confirmed that Liu Qiangdong was recently detained by Minnesota police.The company stated in a statement: Mr. Liu Qiangdong encountered false accusations during his business activities in the United States. After investigation by the local police, no wrongdoing was found. He will continue his trip as originally planned.

A company spokesperson added that the rumors about Liu Qiangdong on social media are all untrue. The police have conducted an investigation and found no evidence against Liu Qiangdong. He continues his business visit in a state of complete freedom.

However, John Elder, public information officer for the Minneapolis Police Department, said an investigation is ongoing.

He added: "The statute of limitations is the only deadline we have right now.

Elder said that if the police continue to detain Liu Qiangdong, according to local rules, the police must file a charge by noon on Tuesday.He was released on bond pending formal charges, an arrangement that often does not require bail, he said.

Liu is married to Internet celebrity Zhang Zetian, 24, who gave birth to Liu's second child in 2016.

In an interview with the Financial Times last year, Liu Qiangdong said he hoped JD.com could become China's largest B2C (business-to-consumer) platform within five years.We will surpass any competitor, he said.

Translator/Japanese style