Offshore assets of some Government officials disclosed
According to the information released by the Independent Authority Against Corruption of Mongolia (IAAC), a total of 20 Government officials notified to the IAAC of their declaration and transfer of assets in offshore countries and territories. Under the relevant law, the Government officials were ordered to close and drawback deposits from offshore zone banks, terminate the operations of legal entities, and sell, transfer, or revoke licenses of moveable and immoveable properties before April 6, 2018. During the designated period, two MPs, namely Batbold Sukhbaatar and Tsogtbaatar Damdin, Director of Financial Reporting and Accounting Departments of Bank of Mongolia, reported that they have transferred their company shares owned by their relatives in the offshore zone, including British Offshore assets of some Government officials disclosed Virgin Islands and Isle of Man, a self-governing British Crown dependency in the Irish Sea between England and Ireland, to others in 2015 and 2017.
Also, an official from the General Police Department reported that he closed his official use accounts in Hong Kong for IAAC registration. In addition, another 16 officials, who run official duties in foreign countries in the offshore zone and opened bank accounts for study and medical purposes, have deposits, and/or own movable and immovable properties, reported their declaration of assets in a written statement to the IAAC. The disclosed list also includes two MPs, Enkh-Amgalan Luvsantseren whose daughter studies in Singapore, and owns an apartment and credit account there, Delgersaikhan Borkhuu who has two bank accounts in Switzerland. The others include Director General of the Customs General Administration of Mongolia, an officer at IAAC whose relatives own bank accounts in Hong Kong and Ireland, as well as officials from embassies, consulates and representative offices in the offshore zone.
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