Sainjargal, spokesperson of Mongolian Police said today to MonInfo News Service Myanganbayar, owner of Mongol Gazar Holdings not arrested by police.
Last week, Mongolian newspapers (Dayar Mongol and Ulaanbaatar Times) reported Myanganbayar is arrested by Economic Police and charged for falsification of documents when obtained loan from bankrupt "Zoos" bank.
The spokesperson confirmed Myanganbayar is under investigation by Economic Police.
He added Myanganbayar is not charged for any wrongdoing and investigation is still continuing.Myanganbayar is Mongolian tycoon who made his fortune in gold mining and owns "Mongol Gazar Holdings" which have many exploration licenses. Mongol Gazar's largest asset is "Olon Ovoot" gold deposit in Umnugobi aimag (South Gobi province).
He added Myanganbayar is not charged for any wrongdoing and investigation is still continuing.Myanganbayar is Mongolian tycoon who made his fortune in gold mining and owns "Mongol Gazar Holdings" which have many exploration licenses. Mongol Gazar's largest asset is "Olon Ovoot" gold deposit in Umnugobi aimag (South Gobi province).
It is reported Goldman Sachs, investment banking group based in NY, USA invested significant amount of capital in "Olon Ovoot".
By Ganbat, editor of MonInfo News Service
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