Magnai Trade director arrested

Magnai Trade LLC’s Director R.Ganzorig has been arrested on October 10.

As of now the reason for his arrest is unclear and informal sources say that he is being kept by the Department of Crime of the General Police Station.

The request of confinement has not been sent by the prosecutor to court yet. In accordance to the law, the court must decide whether to confine him within 48 hours of arrest. Official sources state that this will not be extended and he will be held in confinement for that exact amount.

It is speculated that his arrest is related to Just Group’s Sh.Batkhuu’s criminal case regarding the over 100 million USD loan he took out from a South African bank by putting the state’s 51 percent share of Erdenet Mining Corporation as collateral.