Federal prosecutors have taken legal action to seize two luxury apartments in New York City worth $14 million. These apartments were allegedly purchased with funds obtained through a corrupt scheme involving Mongolia’s massive copper mine, a former prime minister, and his son, a Harvard Business School graduate. The lawsuit, filed in U.S. District Court in Brooklyn, outlines $128 million in suspicious contracts awarded by a state-owned mining company in Mongolia to shell companies linked to former Prime Minister Sukhbaatar Batbold and his family, including his eldest son.
During Batbold’s time as prime minister from 2009 to 2012, the lawsuit claims that he used a middleman with ties to him to secure contracts with Ocean Partners, enabling him to divert millions of dollars for personal gain. These illicit funds were then used to buy luxury apartments in Manhattan. Despite currently serving as a member of the Mongolian parliament, Batbold’s activities during his tenure as prime minister are now under scrutiny.
The lawsuit also reveals that $30 million from an allegedly illegal contract with Erdernet Mining was funneled into a U.S. bank account controlled by Batbold’s son, Battushig Batbold. Wire transfers referencing expenses such as “car payments,” “travel expenses,” “school fees,” and “interior designer fees” were used to move the money. Battushig Batbold, an International Olympic Committee member and a graduate of Harvard Business School, has previously held positions at prestigious firms like Blackstone and Morgan Stanley.
According to statements from Orin Snyder, an attorney from the Gibson Dunn firm representing Batbold and Battushig Batbold, these claims echo previous allegations that were disputed in courts worldwide. Allegations of manipulation of Mongolian democracy through misinformation campaigns were leveled against Batbold’s opponents. The attorney asserts that Batbold is eager to clear his name in court and defend himself against baseless accusations.
As this corruption scandal unravels, it raises serious concerns about the misuse of power and exploitation of resources for personal gain. The legal battle that ensues will shed light on the extent of corruption in the Mongolian government and the involvement of high-ranking officials in illicit activities. The outcome of this case will have far-reaching implications for the reputation of the individuals implicated and the broader implications for governance and accountability in Mongolia. It is crucial for justice to prevail and for those responsible to be held accountable for their actions.