Director of Liberty Partners Ch.Ganbat wanted by Interpol
The International Criminal Police Organization (Interpol) is in pursuit of Mongolian citizen Ch.Ganbat, who is wanted by the judicial authorities of Mongolia and accused of money laundering and appropriation of property by fraud.
Ch.Ganbat served as an advisor to the former Minister of Roads, Transportation, Construction and Urban Development, Kh.Battulga. Ganbat, current director of financial and legal advisory firm Liberty Partners, is being investigated for a case involving B.Batzaya, former state secretary of the Ministry of Roads and Transportation.
B.Batzaya was arrested on the suspicion of embezzlement on October 30. He served as the former head of Mongolian Railway’s managing board, and he participated in choosing the contractor for the 267 km railroad connecting Ukhaakhudag to Gashuunsukhait.
Ch.Ganbat was the head of the working group selecting investors for the Tavan Tolgoi Project. He was also a member of the working group for monitoring the implementation of railway policy at the time. Some sources say that Ch.Ganbat’s involvement in the case may be related to holding the simultaneous positions.
McKinsey & Company, BNP Paribas Corporate & Investment Banking, and Pillsbury Winthrop Shaw Pittman were selected for advisory services team members for Tavan Tolgoi, but while funds were being distributed from Chinggis Bonds, Liberty Partners joined the consulting team. As founder of Liberty Partners, Ch.Ganbat owns 85 percent of the company, and the remaining 15 percent is owned by Liberty Management Trust, an entity owned by the management team of Liberty Partners.
Former deputy chairman of Mongolian Railway P.Bat-Erdene was planning to complete the construction of the Ukhaakhudag to Gashuunsukhait railroad’s infrastructure through private funding from Energy Resources, but former Minister B.Battulga transferred the project to Mongolian Railway. Although around 200 million USD was issued from Chinggis Bond funding, the project remains incomplete.
Some local media reports say that Ganbat may be in Singapore. Currently, nine Mongolian citizens are wanted by Interpol for crimes involving murder, fraud, and embezzlement. N.Enkhtuya, sister of former president of Mongolia N.Enkhbayar, is also on Interpol’s wanted list.
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