Unexplained wealth is tracked down in London by New Law.

 

Unexplained Wealth Orders: How to catch the corrupt and corrupt money in the UK

UNEXPLAINED WEALTH ORDERS: HOW TO CATCH THE CORRUPT AND CORRUPT MONEY IN THE UK



On 27 April the UK parliament passed an important provision of the Criminal Finance Bill that introduces a powerful new weapon into the anti-corruption arsenal: Unexplained Wealth Orders. This follows action already taken in Australia and Ireland.

The provision specifically targets red flag situations where a person buying expensive items, like property or jewels, doesn’t appear to be wealthy enough to make the purchase. It could be a politician in Mongolia or a small business owner in Brussels who buys a multi-million pound property in central London. If the person has access to public money, then the authorities have the right to investigate and return the money to the rightful owners.

The law is also tightening on tracking down offshore accounts from persons with unexplained wealth and access to public funds. The onus falls on 20 Mongolian elite families to prove they are not connected to unexplained wealth that is certainly existing, in the form of 15 to 20 Billion US dollars in offshore accounts connected to Mongolia.

Because Mr S. Bayar has chosen to publicly place himself in London, the centre of this new legislation, it is up to him to clear his name first and without delay.

In March 2017, Transparency International research identifiedLondon properties worth a total of £4.2billion (US$5.4 billion) that were bought by individuals with suspicious wealth.

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Open letter to the IMF concerning Mongolia.

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Open letter to the IMF                                                                                                 6th April 2017
Dear sir,
For your information, I’m sending you this link of the largest demonstration against corruption to be held in Mongolia in the past 20 years, which took place last Friday.
It was non-political and not reported by any national media or TV.

https://www.facebook.com/groups/114369737762/permalink/10154725586012763/

This demonstration is about exposing off-shore accounts and shows that the people have reached a tipping point. Unless the recent past is faced up to properly, it’s hard to see a way forward for Mongolia .

The social conditions are not going to get better with the same people at the helm, government and opposition, colluding with each other. In this situation, self interest will always win over national interest.
Mr Bayar is key in this, because he represents the development of a culture of financial corruption that goes all the way down the pyramid of officialdom. The evidences for this are solid enough to ensure they will not simply go away.  He needs to clear his name (or not) by investigation from a neutral body before Mongolia can move on. Four years  of diplomatic immunity as Ambassador to the UK will only stagnate things further.
At the moment, the general perception among ordinary Mongolians is that any IMF money will just continue to feed the corruption, no matter how strict the conditions are. A forensic investigation into off-shore and other financial dealings however, will unravel layers of bad practice, bringing fresh air and fresh people, who can appreciate what is being done for their country by the international community.

I hope you will pardon my frank speaking, it’s out of concern for those homeless children on rubbish tips we spoke of and of course the next generations, who deserve to have something to be proud of about Mongolia, now and into the future.

Yours sincerely,

Peter Graham

World Culture Association

 

No to Off-Shore assets demo in UB!

UBdemo3

A demonstration was held in Ulaan Baatar on 31st March, to protest politician’s personal off shore assetts of at least $US 17 Billion. Social conditions are decaying in Mongolia and people have to get money from Korean loan sharks for food, while a few individuals have more wealth than the entire country. This has forced Mongolians into action, as they realize that the life blood is being sucked out of their country by their elected officials past and present. They demanded that proper investigations be conducted and the stolen money returned.

A first step would be to recall Mr S Bayar from his ridiculous appointment as ambassador to the UK, check his daughter’s off shore accounts and demand explanations for his trading in luxury mansions around the world.

According to Associated Press and the official version there were a few hundred people present in the square. Eye witness versions count well over 25,000.  No National TV was there to cover the biggest rally in Mongolia since 2008.

The atmosphere was peaceful and calm, showing the quiet determination of the people to take their country back by due process, giving no opportunity for the corrupt government to use strong-arm tactics against them.

Inappropriate Mongolian Ambassador to the UK.

monlaundThe campaign continues to get the Mongolian government to reconsider their appointment of Mr S. Bayar as Ambassador to the UK. How can he be a good representative, with an enquiry into his alleged money laundering, backed  up by considerable circumstantial and investigative evidence, on hold, plus the pending investigation into the fatal shooting of 5 peaceful demonstrators in 2008, during his tenure as Prime Minister. Four year’s diplomatic immunity might suit him very well but what good will it do Mongolia? A forward looking country doesn’t need a lame duck Ambassador to one of the leading developed nations. A petition to have him removed has gained over 1000 signatures. The Mongolian people don’t want him here, the British diplomatic community don’t need him either.

Find out more here: http://www.worldcultureassociation.com/corrmongolia.html

Sign the petition here:-

https://www.change.org/p/office-embassyofmongolia-co-uk-the-mongolian-uk-ambassador-out-and-an-end-to-corruption