Liu Jiyuan, 1968 was born in Yingshan, Hubei, and was born and raised in Jinan. His parents both work in Jinan Railway Bureau. After graduating from high school and working in Jinan Architectural Design Institute for eight years, Liu Jiyuan began to develop real estate in Liaocheng, and then successively invested in stock and real estate business. In 2004, Shanghai Quanfu Investment Management Co., Ltd. was established, and successively held 18 companies in Shanghai, Beijing and Shandong.

Liu Jiyuan, 20 12, aged 44, is the chairman and general manager of Shanghai Quanfu Investment Management Co., Ltd., and has been trading stocks since 1992. Since 2002, Liu Jiyuan has had the idea of defrauding bank credit funds. With the huge deficit of funds, Liu Jiyuan's alleged fraudulent means gradually escalated, from allegedly defrauding bank loans to directly defrauding enterprises.