Source: The UB Post                      Date: 22 April, 2011

Senior bankers are under interrogation by both the Anti-Corruption Agency and the State Investigation Authority, local media have reported. Central Bank Governor L.Purevdorj and officials under him are suspected of illegal transfer of funds from Zoos Bank, a private commercial bank that went into liquidation, and is now under government management. Mr. N.Ariunbat, top managing official of the newly named State Bank, is also reported to be connected with “unauthorized” return of large sums of money to Mr. D.Batbayar, a former member of the Zoos Bank board of directors. Assets worth more than MNT3.6 billion are believed to have been returned to Mr. Batbayar, who held 51 percent shares of Zoos Bank.