CHINA: The recently convicted Chinese banker, Liu Liange, who is serving a death sentence for corruption, is facing intense public scrutiny for his criminal actions and his tumultuous personal life.
Liu, whose rapid rise to power and wealth has long been a topic of speculation, now finds himself the subject of widespread criticism due to his multiple marriages, extramarital affairs, and interference in his son’s relationship.
These personal scandals have played a role in his son’s severe depression, adding to the public’s disdain for the disgraced banker, the South China Morning Post reported.
Rapid rise in finance and suspicious connections
Born in 1961 in Yongji, Jilin province, Liu was raised in a well-educated family before attending Jilin University of Finance and Economics.
His career trajectory led him through prominent roles at the People’s Bank of China and the Export-Import Bank of China before he was appointed Chairman of the Bank of China in 2019.
At that time, Liu became the youngest chairman among the “Big Four” state-owned banks, drawing significant public attention.
However, his swift ascent has been marred by persistent rumours suggesting that his career was propelled by his first wife, reportedly the daughter of a high-ranking official.
After attaining professional success, Liu divorced his wife and married a younger mistress, further fueling suspicions about the role of his relationships in his career.
Critics have labelled Liu’s behaviour as “morally corrupt,” citing his multiple marriages and numerous extramarital affairs, behaviours often associated with corrupt officials.
Marital drama and the emotional toll on his son
Liu’s personal life sparked outrage, especially regarding his relationships with women. He was married four times, and his partners grew progressively younger and more attractive.
However, his fourth marriage stirred intense controversy when Liu married his son’s former girlfriend.
The affair began when Liu’s son introduced his girlfriend to the family, only for Liu to disapprove of the relationship. Liu reportedly pressured his son to break up with her, claiming she was unsuitable for their family’s status.
The shock came when Liu’s son later discovered his father had married the same woman. This betrayal was said to have pushed the young man into a deep depression as he struggled to come to terms with his father’s actions.
The situation has fueled public outrage, with many questioning Liu’s morality and integrity.
Liu’s fall from grace and ongoing public outcry
Liu’s involvement in illegal activities finally caught up with him when he was expelled from the Communist Party in October 2023.
Investigations revealed that Liu had accepted bribes totalling over 121 million yuan (US$17 million) and had illegally approved loans exceeding 3.32 billion yuan (US$450 million).
His illicit gains were seized, and he was sentenced to death with a two-year reprieve in November 2023 by the Jinan Intermediate People’s Court.
The scandal sparked widespread discussions, especially on Chinese social media platforms, where netizens have expressed their disbelief and anger at Liu’s actions.
Many are also questioning the future of his former wife and whether reconciliation with his son is possible. As the story continues to unfold, the impact of Liu’s personal and professional failings will likely resonate for some time.