The State Investigation Department arrested the wife of the former Minister of Education, Culture and Science Yo.Otgonbayar, O.Erdenesolongo on Wednesday June 5th.

It was revealed that O.Erdenesolongo was in possession of over 13.9 billion MNT  in a number of bank accounts of Zoos Bank, Golomt Bank and the Trade and Development Bank. Between 2009 and 2013 323 million US dollars had been withdrawn from these accounts.

The legislature suspects the case to be worth a total of 452 billion MNT might be a case of money laundering.

The suspect O.Erdenesolongo has claimed that she did not know about it during questioning.

The former Education Minister`s wife has no source of finance except a four percent stake of Sky supermall. So the source of the money in her bank accounts is still uncertain.

A joint working group of the State Investigation Department along with the Criminal Police have initiated an investigation into O.Erdenesolongo and potentially related persons. The process for the confiscation of property, search warrant for a raid and cooperation with international financial institutions has begun. It is possible that the case comes under organized crime because of the large amount of money laundering, tax avoidance and illegal capitalization.

If MP Yo.Otgonbayar is found to be involved in the money, the legislature will take action to have the MP dismissed from Parliament by delivering a request to the Prosecutor General.