Feds seek seizure of two New York apartments worth $14 million tied to former Mongolia leader in alleged mining scheme
Federal prosecutors sued to seize two New York City apartments allegedly bought with proceeds from a corrupt scheme involving Mongolia’s huge copper mine.
Federal prosecutors on Tuesday sued to seize two New York City apartments worth $14 million that were allegedly bought with proceeds from a corrupt scheme involving Mongolia’s huge copper mine, a former prime minister of that nation, and his Harvard Business School graduate son.
The lawsuit filed in U.S. District Court in Brooklyn details a total of $128 million in allegedly unlawful contracts granted by a Mongolian state-owned mining company to shell companies, which benefited then Prime Minister Sukhbaatar Batbold and his family, including his oldest son.
“During Batbold’s tenure as Prime Minister, Erdenet Mining Corporation inserted a middleman with ties to Batbold into the relationship with [the commodity trading firm] Ocean Partners, allowing Batbold to siphon off millions of dollars for his personal use and benefit, which included the purchase of the” luxury apartments in Manhattan, the suit alleges.
Batbold served as prime minister from 2009 through 2012. He currently is a member of the Mongolian parliament.
Money linked to another allegedly illegal contract for $30 million from Erdenet Mining went into a bank account in the United States controlled by the eldest son, Battushig Batbold, via wire transfers referencing “car payment,” “trips and travel,” “school payment,” and “interior designer payment,” the suit said.
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