Story highlights Babak Zanjani was charged with corruption and embezzlement

He was arrested in 2013

Tehran (CNN) Iranian billionaire Babak Zanjani has been sentenced to death for corruption, authorities said Sunday.

Zanjani and two others were convicted of embezzling billions of dollars from the national oil company, judiciary spokesman Gholam Hossein Ejei said.

One of the charges he faces is "corruption on earth," which carries the death penalty, according to Iranian state TV

Iranian billionaire Babak Zanjani is facing the death penalty.

The oil mogul was sanctioned by the EU and the United States for helping Iran evade sanctions.

He was arrested in December 2013.