Former head of the National Energy Administration and deputy head of the National Development and Reform Commission, Liu was sacked in May after accusations of corruption appeared online in the investigative magazine Caijing. CPC anti-graft watchdog, the Central Commission for Discipline Inspection, also reported on Liu's abuse of his position, noting that he and his family members accepted bribes.
Caijing's uncovering of Liu's illegal activities came from a tip-off from Liu's former mistress in Japan. She alleged that he accepted bribes to help defraud banks of more than USD $200 million.
The state media agency Xinhua called Liu "morally degenerate," and said he had been handed to judicial authorities for formal charging.
Chinese President Xi Jinping has cracked down on corruption within the party. Liu's prosecution comes two weeks after the high profile indictment of former CPC Secretary Bo Xilai.
