Beijing ( CNN ) -- It 's the Chinese crime story of the century and a major embarrassment for the country 's all-powerful Communist Party . In late July , Bo Xilai , a former darling of the party , was finally indicted on corruption charges . His trial is expected to begin on Thursday , August 22 , the latest chapter in a gripping tale of murder , betrayal and political factionalism . The authorities claim he abused his official state position to seek financial benefits , resulting in `` huge losses to the nation and the people . '' `` The circumstances are extremely serious , '' a statement in the state-run Xinhua news agency declared a few days later . But a source close to the Bo family for decades says the claims are `` ridiculous . '' `` The charges go way back when Bo was in Dalian . That 's more than 20 years ago . So they can not find anything more recent ? '' READ MORE : Bo Xilai indicted for corruption . Until March 2012 , the charismatic , populist leader was a member of the policy-making politburo of the Communist Party and party chief of Chongqing , a megacity in southwestern China . Bo , 64 , is currently in detention , awaiting a trial that could cap the biggest political scandal to hit China in decades . He has not been seen in public since news of the scandal emerged , and he was stripped of his role as Chongqing party chief and later his prestigious politburo post . TIMELINE : Bo 's fall from grace . Bo stands accused of bribery , embezzlement and abuse of power . According to the indictment documents , as a civil servant he took advantage of his position to seek profit from others and accepted an extremely large amount of money and properties , Xinhua reported . The documents do n't quantify the amount of bribes allegedly accepted , but published reports say it could be as much as 20 million yuan ( $ 3.3 million ) . What are the allegations about ? Concrete details are not forthcoming . Bo 's lawyer did not respond to request for comments , but sources close to Bo who requested anonymity because of the sensitivity of the case , gave CNN their thoughts on how he is preparing to defend himself . The accusations , according to those sources , may be linked to the case of Xu Ming , a multi-millionaire entrepreneur who owned several companies in Dalian , a bustling port city in eastern China where Bo Xilai served as mayor for nearly nine years . Xu has not been seen for more than a year and is believed to be under detention for alleged corruption . The sources believe that , of the 20 million yuan in alleged bribes , 16 million ( $ 2.6 million ) may be related to the purchase of a house in Nice , France that Xu bought some years ago . Prosecutors may allege that Xu gave the house to Bo 's wife and son . `` The Bo family says they are aware that Xu bought such a house , but they have no connection with its purchase and ownership . It 's believed to be an old house that Xu may have bought as an investment or for use as vacation house , '' one source said . READ MORE : Bo 's wife convicted of murder . What punishment awaits Bo ? China 's legal system gives much discretion and flexibility to the local courts in imposing punishment . For the same charge of bribery , for example , Zheng Xiaoyu , former head of the State Food and Drug Administration , was convicted in 2007 of taking more than six million yuan ( about $ 1 million ) in bribes . He was sentenced to death and executed later that year . In 2009 , however , Chen Tonghai , former chairman of Chinese oil giant Sinopec , was convicted of taking 196 million yuan ( $ 31 million ) in bribes . He was given a suspended death sentence . Family sources say while they worry for his life , they want Bo to be `` strong-willed . '' `` We hope he will not fall for any offers of compromise or blackmail , like if you co-operate we will leave your son out of this , or will give you and your wife leniency . '' READ MORE : Bo 's son submits statement in mother 's defence . They are also concerned about the in-fighting at the top leadership and its impact on how Bo 's case will be settled . `` Although Bo may not be sentenced to death , we still worry , '' the sources said . `` It is also far from over for ( Bo 's wife ) Gu Kailai , who is serving suspended sentence . They still hold much leverage . ''
Source close to Bo Xilai 's family reject charges against him . Chinese politician accused of bribery , corruption and abuse of power . Comment: Bo 's wife has been convicted of murder , serving suspended death sentence .