The General Intelligence Agency (GIA) of Mongolia has conducted searches of the homes and vehicles of several officials from the Procurement Department of Oyu Tolgoi LLC, as part of an ongoing corruption and money laundering investigation.
According to sources familiar with the matter, the early-morning raids were carried out on October 23 under urgent investigative procedures. Investigators reportedly seized evidence, including cash estimated at around ₮10 billion, and identified multiple luxury properties and vehicles allegedly owned by or linked to the officials under investigation.
Authorities suspect that the individuals abused their official positions to provide advantages to certain parties, accepting bribes and laundering illicit proceeds by transferring ownership of luxury real estate and other assets to relatives and associates.
In response to the investigation, Oyu Tolgoi LLC issued a statement reaffirming its zero-tolerance policy toward bribery, corruption, and ethical violations:
“Oyu Tolgoi strictly prohibits any form of bribery, corruption, or unethical conduct. We are conducting an internal review into the reported procurement-related irregularities and are cooperating fully with law enforcement authorities. As the investigation is ongoing, we are unable to comment further at this stage,” the company said.
The GIA has not released official details regarding potential charges or the number of individuals involved as the investigation continues.
