THE CHF104 million (RM430 million) held by the Swiss Federal Treasury does not belong to 1Malaysia Development Bhd (1MDB), and is actually a fine imposed on banks which have allegedly breached Swiss laws, the state investor said today.
Responding to news and press statements by opposition leaders about the Swiss Parliament’s plans to debate and vote on a motion to repatriate the “stolen” funds to Malaysia, 1MDB said the amount in question cannot be claimed by the firm nor by the Malaysian government.
“The money does not belong to 1MDB.
“The CHF104 million is being claimed by the relevant banks…that have disputed the actions of the Swiss Financial Markets Authority (FINMA) and are appealing the action in the Federal Administration Court.
The money is the result of a fine by FINMA on these banks, it said.
1MDB said the amount was ordered as “disgorgement of profit” (a move to give up profits made from wrongful conduct) against certain banks which had allegedly violated Swiss laws.
The state investor reiterated its stand that it had not lost any money and that all its funds were fully accounted for.
It also said the motion submitted by Swiss MP Carlo Sommaruga for corruption funds to be repatriated to their countries of origin, had been “expressed in general terms and mentions multiple companies and countries”.
“It is not a specific motion on 1MDB or on Malaysia,” 1MDB said.
Opposition politicians Lim Kit Siang and Dr Wan Azizah Wan Ismail have sent letters to the Swiss Federal Assembly, urging lawmakers there to vote in support of the motion that is to be debated in the lower house. Voting is expected to take place tomorrow.
Earlier today, anti-corruption activist Cynthia Gabriel, who is in Switzerland, said the Malaysian government had never made any attempt to recover the funds which were confiscated by FINMA from banks in relation to money laundering
The Centre to Combat Cronyism and Corruption executive director is there with other civil society organisations who were invited to discuss the issue with Swiss lawmakers in Bern. – March 14, 2018.
Comments
Posted 6 years ago by Kuasa Rakyat · Reply
Who are the thieves? Answer: the Malaysian government officials and their accomplices.
And who is the victim? Answer: Technically, it is 1MDB, but since that fund is controlled by the kleptocrats who stole the money in the first place, isn’t it right and just that the seized money should be returned to the Malaysian people who are the real victims?
1MDB and the Malaysian government are treating that seized money as taboo is understandable, for any attempt to claim it would shatter their self-delusionary fairy tale that no money has ever gone missing from MDB.
Posted 6 years ago by Kim quek · Reply
Posted 6 years ago by Peace Maker · Reply
Posted 6 years ago by Mohanarajan murugeson · Reply
Posted 6 years ago by MELVILLE JAYATHISSA · Reply
Assuming that the RM 430 million was collection of fines in dealing with money movement in connection with 1MDB, it points then to the seriousness of the crime involved. If banks dealing with 1MDB are considered to have committed crimes in Switzerland, then the principals, the 1MDB officials have criminal activities managed by the banks. When seven countries have considered 1MDB activities are crimes, then 1MDB act activities are illegal in Malaysia, unless Malaysia is an outcast among members of United Nations
Posted 6 years ago by Meng Kow Loh · Reply