October 18, 2018 / 1:58 PM / in a month

Egypt prosecutor refers 3 oil industry executives for trial for alleged corruption - judicial source

CAIRO (Reuters) - Egypt’s public prosecutor has referred three executives from a private petroleum company for trial over an alleged corruption scam worth close to $1 billion, a judicial source said on Thursday.

The firm’s former deputy chairman and two others allegedly manipulated its books and siphoned funds into personal foreign bank accounts in 2012, the source and state news agency MENA said.

The firm, then known as Tri Ocean, has since been renamed Mog Energy.

No one at Mog Energy was immediately available for comment.

Reporting by Haitham Ahmed, Ahmed Mohamed Hassan and Ahmed Tolba; Writing by Nadine Awadalla; Editing by John Stonestreet

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