Richard Liu, the founder of the JD.com e-commerce company, arranged a settlement with Liu Jingyao, the Minnesota college student who accused the Chinese billionaire of rape back in 2018. The settlement happened less than 48 hours before the scheduled US trial.
A joint statement from the lawyers of both parties was declared.
"Today, [Oct. 2], the parties agreed to set aside their differences, and settle their legal dispute in order to avoid further pain and suffering caused by the lawsuit," the joint statement said, reported by Bloomberg.
The incident apparently resulted in a "misunderstanding that has consumed substantial public attention and brought profound suffering to the parties and their families."
Ms. Liu initially sought more than $50,000 in damages, plus additional punitive damages in the lawsuit. However, details of the settlement were not disclosed to the public.
The 2018 Rape Case Allegation
Despite sharing the same surname, the two are not related to each other, as Liu is a common Chinese family name.
The incident reportedly happened summer of 2018. Ms. Liu was a college student at the University of Minneapolis, while Mr. Liu was in the city for a weeklong residency in the University's doctor of business administration China program.
Ms. Liu was invited to a networking dinner where she felt coerced to drink alcohol. Later that night, Mr. Liu allegedly forced her into his limousine, drove her home, and raped her inside the apartment.
The Minneapolis police arrested Mr. Liu over the rape allegation on August 31, 2018. He was then released the next day, afternoon.
The business tycoon did not face any travel restrictions and was able to return to China days later.
In April 2019, Ms. Liu filed a civil suit against Mr. Liu after the Minneapolis district attorney declined to charge him and launch criminal proceedings, citing the lack of sufficient evidence.
Leaked surveillance footage related to the incident was uploaded on the Chinese microblogging website Weibo. Video clips showed Mr. Liu and Ms. Liu together on the night of the said attack. However, lawyers of both parties said that the footage supports their version of events.
In response, the CEO denied the claims, insisting that their encounter was consensual.
Based on Business Insider's report, the lawsuit accused the executive of "a combined six counts of false imprisonment, civil assault and battery, and sexual assault or battery."
JD.com After the Incident
Richard Liu, whose Chinese name is Liu Qiangdong, is one of the most powerful and wealthiest businessmen in China. He founded JD.com in 1998, and it has now become one of the country's biggest e-commerce platforms.
The company is also operating in Thailand and Indonesia.
The rape accusation led the company to lose a large market value of $10 billion. At the time, it is almost a third of its capitalization.
Nevertheless, Mr. Liu remains among the 150 richest individuals in the world to date, as per the updated Bloomberg Billionaire Index, with a total net worth of $12 billion.
Related Article: E-Commerce Giant JD Releases 2020 Earnings Report and Richard Liu's Vision for the Company
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Written by Trisha Kae Andrada
