More than a year after the Economic Crime Department of the State Investigation Authority named him as a suspect in the Anod Bank case, L.Ulambayar was arrested on December 15 last when he landed in Chinggis Khaan airport after seeking asylum in the USA.  He has now been released on bail after being held in Gantskhudag prison for 14 days even though the charge against him is one of causing the state damages amounting to billions of MNT.

Ulambayar prayed for bail on health grounds and the judge in Bayanzurkh district agreed to release him without notifying the investigators. He is reported to be receiving private treatment at home. The Police are unhappy that the court took the decision on the ground that the other suspects in the case are not in prison. They say the charges against Ulambayar, who used to be Director of Anod, are of a completely different nature from those against the former Director of Representing Administrative Board E.Gur-Aranz and the former Executive Directors D.Enkhtur and N.Davaa.

These three had to mortgage their cars and residences in order to raise the bail amount after being in jail  for more than six months while Ulambayar had to pay only MNT3 million.

Ulambayar, against whom a warrant had been issued by Interpol, has denied that he did not run away from the case. He was waiting for a decision by US officials on his request for political asylum. According to the police, he was repeatedly notified that no asylum could be considered for a person wanted by Interpol.