Egypt accuses three oil executives of embezzling nearly $1 billion

Egypt's public prosecutor has charged three executives from a private petroleum company with embezzling nearly $1 billion from corporate funds, state news agency MENA and a judicial source said on Thursday.

The firm's former deputy chairman, Mohammed Mahfouz al-Ansari, and two other officials face a criminal trial on charges that they manipulated the company's books and sent about $960 million into personal foreign bank accounts between 2011 and 2015.

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