Mongolia jails American, two Philippine citizens in tax evasion case

January 30, 2015 2:10 PM

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BEIJING (Reuters) - Resource-rich Mongolia on Friday jailed an American and two Filipinos for more than five years after finding them guilty of tax evasion, ending a three-year case that deterred investors.

Perceived resource nationalism in Mongolia, fed by suspicion at foreigners taking control of some of the world's largest coal and copper deposits, has led to an annual decline of 71 percent in foreign investment in the year to November 2014.

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