Federal Prosecutors Sue to Seize $14 Million NYC Apartments Linked to Alleged Mongolian Mining Scheme from bank tar ham Watch Video
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⏲ Duration: 0:48 👁 View: 585K times ✓ Published: 28-Mar-2024
Description: U.S. federal prosecutors sued to seize two NYC apartments worth $14 million, alleging they were bought with money from an illegal mining scheme in Mongolia.The scheme involved Mongolia's state-owned mining company granting $128 million in unlawful contracts to shell companies benefitting former Prime Minister Sukhbaatar Batbold and his son. During Batbold's term from 2009-2012, a middleman tied to him was inserted to siphon funds for personal use, including buying the apartments. Batbold's son, a Harvard Business alum and International Olympic Committee member, received funds from an illegal contract in a US bank account. Lawyers for the Batbold and his son say similar past claims against them were politically motivated and defeated in court.