Prosecutors on Sunday ordered the head of Egypt's oldest news organisation Al-Ahram under deposed president Mohamed Morsi to be detained pending investigation into corruption allegations, Al-Ahram Arabic news website reported.

Mamdouh El-Wali, who was accused of having links to Morsi's Muslim Brotherhood group while in office, was ordered to be detained for 15 days on charges including squandering public funds and facilitating their seizure by giving up LE92 million (approximately $13 million) worth of Al-Ahram's money to a businessman.

El-Wali was removed from office shortly after the ouster of Morsi last July amid the dissolution of the organisation's board of directors by its general assembly for allegedly causing the institution to sustain huge losses.

Authorities have been probing reports made by Al-Ahram employees and the country's official auditing authority of corruption and financial irregularities at the organisation, said to be worth hundreds of millions of pounds. 

Earlier this year, former Al-Ahram CEOs -- Ibrahim Nafae, Morsi Attallah and Abdel-Moneim El-Said -- were investigated and placed on a travel ban list over misappropriation of funds allegations.

Abdel-Moneim El-Said is currently the CEO of Egypt's privately-owned daily Al-Masry Al-Youm.