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

Egypt prosecutor refers 3 oil industry execs for trial for alleged corruption -judicial source
An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. Picture taken May 3, 2017 - REUTERS
Updated 18 October 2018
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Egypt prosecutor refers 3 oil industry execs for trial for alleged corruption -judicial source

Egypt prosecutor refers 3 oil industry execs for trial for alleged corruption -judicial source
  • Three executives from a private petroleum company had been referred for trial over an alleged corruption scam worth close to $1 billion

CAIRO: 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.