Mr. D.Enkhtur, CEO of Anod Bank, Mr. E.Gur-Aranz, Head of the Board of Directors, Mr. N.Davaa, Member of Board of Directors, were detained for their possible criminal acts. Two of them were candidate for the member of the State Great Khural. Mr. E.Gur-Aranz was the independent candidate and Mr. N.Davaa was candidate from the Civil Movement Party.
Some sources say that Mr. E.Gur-Aranz spent around 1 billion MNT and Mr. N.Davaa spent around 300 million MNT for their election campaign and in order to cover their expense, Anod Bank announced IPO at the Mongolian Stock exchange. However, Standing Committee on Economy and Financial Regulatory Committee made investigation in the exercise of issuing stock and concluded that it was according to the legislation. Anod Bank has 1263 shareholders at the moment.
Another source says that Anod directors are suspected for financing July 1st incident. More issues are following after one another. But this information are not verified and proven by the related bodies. However, many think that this detention is more related to the political issues.