Disgraced top China banker Liu Liange married son’s girlfriend, causing his chronic depression

BEIJING (SCMP): Disgraced Chinese banker, Liu Liange, who has been sentenced to death for corruption, has had his romantic life come under public scrutiny.

This includes frequently changing partners and sabotaging his son’s relationship before marrying his girlfriend, leading to widespread criticism and reportedly contributing to the young man’s chronic depression.

Born in 1961 in Yongji, Jilin province, northeastern China, Liu hails from a well-educated family. He later gained admission to Jilin University of Finance and Economics.

His career in banking and finance included stints at the People’s Bank of China central bank and the Export-Import Bank of China before being promoted as the Chairman of the Bank of China in 2019.

At the time, he was the youngest chairman among the “Big Four” state-owned banks, which propelled him into the public spotlight.

However, there have been persistent suspicions that Liu’s rapid rise was facilitated by his first wife, purportedly the daughter of a high official, whom he later divorced to marry his young mistress after achieving his professional success.

According to Caixin, the conduct of this now-disgraced banker was described as “morally corrupt”, a term often applied to officials known for having three or more mistresses.

Reports detail Li’s personal conduct as being widely criticised for his multiple marriages and numerous extramarital affairs.

Allegations suggest that during his tenure, Li frequently summoned female subordinates to his office for late-night “heart-to-heart chats”.

Public records indicate he was married four times. Over the years, Liu’s partners became progressively younger and more beautiful, culminating in his fourth marriage – to his son’s ex-girlfriend.

It is reported that after his son introduced his girlfriend to the family, Li disapproved of the relationship, coercing his son to end it because she was “not a suitable match for their family background”.

The couple eventually separated. However, six months later, the son was shocked to discover that his father had married his ex-girlfriend, which reportedly led to the young man’s depression.

In addition to his scandalous love life, Liu’s fondness for skiing is also well-known in the industry. The founder of a domestic private equity fund reportedly arranged private jets and facilitated his annual skiing trips in May to the Koktokay region in Xinjiang.

Liu’s fall from grace was unexpected. In October last year, he was expelled from China’s Communist Party, accused of engaging in illegal activities and accepting bribes.

On November 26, the Jinan Intermediate People’s Court in Shandong province handed Liu a death sentence with a two-year reprieve for accepting bribes totalling more than 121 million yuan (US$17 million) and illegally issuing loans exceeding 3.32 billion yuan (US$450 million).

All of his illicit gains were confiscated.

The scandal has caught widespread attention and stirred significant discussions among Chinese netizens.

One online viewer commented: “This man must have been a good student of history – taking lessons from Emperor Xuanzong of Tang, who fell in love with Yang Yuhuan (often known as Yang Guifei), the stunningly beautiful wife of his son Li Mao.”

Another added: “What happens to his wife now? Can she reconcile with the son?” – SOUTH CHINA MORNING POST