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Back CEO Liu Qiangdong was briefly detained in Minneapolis, Minnesota, over a rape allegation in August. Since then, he has been absent from several high-profile events in China. Liu didn't show up to the World Internet Conference on Wednesday. shares fell almost 7%. Watch trade live., the second largest Chinese e-commerce site after Alibaba, fell nearly 7% Thursday after CEO Liu Qiangdong, who is the subject of a rape investigation in the US, didn't show up at a major state-sponsored internet conference in China.  Liu was absent from the World Internet Conference, which opened Wednesday in Wuzhen, China. In recent years, the event had been a gathering of Chinese IT leaders, such as the founders and CEOs of Alibaba, Tencent, Baidu, and This year, Chinese President Xi Jinping sent a congratulatory letter that was read at the event opening. It was not the first time Liu was a no-show at a high-profile event since he was briefly detained over a rape allegation in Minneapolis, Minnesota in August. Last month, Liu was not among the top business leaders invited to meet with Xi at a symposium. In late September, Liu also didn't appear at the AI World 2018 conference in Shanghai. Liu, a Chinese billionaire, was arrested when he was participating in a business management course at the University of Minnesota. He was released without bail requirement. The allegation against Liu claims that he forced himself on a student after a night of heavy drinking, and raped the student without her consent. Liu, through his attorney, has denied any wrongdoing.  Liu's net worth sank has plunged 34% this year to $6.2 billion, as shares have fallen sharply since peaking in January. Liu fell from the 16th place to 30th on Forbes' recently published list of China's richest people. was down 48% this year through Thursday. Now read: CEO plunged from 16th to 30th richest man in China after being arrested in the US over a rape accusation A Chinese tech billionaire has been accused of plying a student with drink and then forcing himself on her during a trip to the US Join the conversation about this story » NOW WATCH: A sleep expert explains what happens to your body and brain if you don't get enough sleep