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Many Mongolian businessmen are called for execution due to Panama Papers as public suspects them as tried to evade from taxes through registering their entities offshore. Among the registry is Choindon Davaanyam. He listed as a shareholder of defaulted Wuxian technology Limited and Label light Ltd which run out of business.

Some people on the Panama list are not known by Mongolians but apparently they represent back office of investor politicians. Choindoin Davaanyam mentioned above is one of the founders and shareholder of Petrovis, top importer of petroleum products to Mongolia. Besides he said have close ties to ex PM S.Bayar. To explain his close relations, we should refer to the sensation of seven houses and immovable property of ex PM. The property of S.Bayar registered in the USA attracted attention of Mongolian public and some of the houses even had another co-owner in Choindon Davaa. Later appeared that co-owner’s name was replaced and registered as a property of S.Bayar’s family.

It could be understood that shareholders of petroleum importer Petrovis keep their assets offshore or perhaps elp to purchase highly value property to the resigned politicians. Seems the company with high stakes at petroleum market and trick citizens with their fluctuation prices hides their income offshore which was disclosed by Panama Paper sensation.

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Монгол эхийг унших бол энд дарж орно уу