Chinese internet billionaire Richard Liu Qiangdong, also dubbed the "Jeff Bezos of China" and former University of Minnesota student Liu Jingyao have reached a settlement just one day before a jury trial was supposed to begin in Minnesota's Hennepin County District Court.

Liu Jingyao accused the founder of of rape in 2018.

"The incident between Ms. Jingyao Liu and Mr. Richard Liu in Minnesota in 2018 resulted in a misunderstanding that has consumed substantial public attention and brought profound suffering to the parties and their families," Florin Roebig, a law firm representing the plaintiff Liu said.

"Today, 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 firm said. It further stated that none of the parties concerned will make any more comments.

However, on Sunday, the founder of apologized to his wife Zhang Zetian and thanked her for her understanding and support. He remarked, "I hope that my life and career can return to normal as soon as possible."

Before the parties reached a settlement, the terms of which were not disclosed, the plaintiff had urged the court to award damages and a punitive judgment against the defendant, Liu, whose estimated net worth as of Oct. 2 was 10.9 billion US dollars according to Forbes.

According to a report from the Minnesota Daily Star Tribune on Sept. 30, a jury of 12-consisting of seven women and five men-had been chosen to hear the civil case. On October 3, at the trial's opening statements, these jurors were intended to be present.

Their deal brings to an end a scandalous chapter for the creator of, who has shied away from the spotlight since August 31, 2018, when he was held by Minneapolis police for the alleged rape and temporarily arrested. Liu was imprisoned for almost 17 hours before being released by authorities. Liu had maintained his innocence through intermediaries. A few hours later, he took a flight to China, which does not share an extradition agreement with the US.

Many people in China were shocked by the news, which also dominated Chinese social media. Within hours, hashtags connected to the event accumulated hundreds of millions of views and comments on Weibo. Millions of Chinese people intended to closely follow how the trial played out in a country with a legal system that was far more open than China's.

According to several experts, Liu Jingyao had a better chance of winning in the U.S. Now that the case has been resolved in secret, there will undoubtedly be more rumors and ambiguity surrounding China's troubled MeToo movement.