China Economic Review chief arrested in US for sexual misconduct founder and boss Richard Liu has been released from police custody in the US after being charged for sexual misconduct over the weekend.

Liu was taken in late on Friday and released Saturday afternoon by the Hennepin County police in the state of Minnesota, according to the Wall Street Journal. A spokesman for the state capital’s police department said that the investigation was still ongoing.

“This is an active investigation,” the spokesman said. “That individual was released pending formal complaint.” said in response to the charges that Liu had been falsely accused.

“During a business trip to the United States, Mr Liu was questioned by police in Minnesota in relation to an un unsubstantiated accusation,” the company said. “The local police quickly determined there was no substance to the claim against Mr Liu, and he was subsequently able to resume his business activities as originally planned.”