Li Jiating was investigated in 2001, and two years later was finally sentenced to death with a reprieve for accepting bribes of more than 18.1 million yuan; his son Li Bo and his mistress Xu Fuying were also successively sentenced.
Li Jiating was investigated in 2001, and Li Wei and Xu Fuying came to the attention of the special task force. After assisting with the investigation, Li Wei took refuge in Beijing.
Li Wei met Wang Yi, then vice chairman of the China Securities Regulatory Commission (CSRC), through Li Jiating, and afterwards began taking heavy positions in listed companies under Sinopec.
Li Jiating's mistress Xu Fuying ran the "Haiwang" on Yangzong Lake in Yunnan, and the cruise boat became a platform for officials, tobacco merchants and real estate developers to exchange resources; Li Wei worked as an assistant on the boat at the time.