Liu Tienan, a key economic planner, was accused of taking "advantage of his position to seek profits for others, and both Liu and his family accepted [a] huge amount of money and property," a statement from the Communist Party of China's Central Commission for Discipline Inspection said Thursday.
Liu was also expelled from the CPC following the investigation, China's official news agency Xinhua reported.
Corruption allegations against the politician first emerged in December in a blog by Luo Changping, deputy editor of Caijing Magazine. Luo wrote on his blog that Liu was involved in questionable financial deals, fabricated his academic record and threatened to kill his former mistress.
Notable deaths of 2014 [PHOTOS]