1MDB: RM430 million in Swiss Federal Treasury not ours

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.

“1MDB has previously stated and reiterates that it has not lost any money and that all its monies are fully accounted more.”

The state investment fund said the money held by the Swiss authorities was actually a disgorgement of profit (fine) imposed on certain banks which had allegedly breached laws in the country by the Swiss Financial Markets Authority (FINMA).

Citing Swiss Finance Minister Ueli Maurer. it said the former had revealed that the relevant banks had disputed the actions of FINMA and were appealing in the Federal Administration Court. “

Thus, the CHF104 million is being claimed by the relevant banks.

“It cannot be claimed by 1MDB or the government of Malaysia as the money does not belong to 1MDB.

“FINMA itself has stated that only those "directly damaged" by the actions of financial intermediaries in Switzerland are able to claim a share of any fines and that too, only through a legal process.

“1MDB has previously stated and reiterates that it has not lost any money and that all its monies are fully accounted for,” the statement read.

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, adding that the Swiss Federal Council (equivalent of a Cabinet) had on Aug 30 2017, issued a detailed analysis of the motion and proposed to reject the motion.

Referring to the letters sent by Opposition leaders Lim Kit Siang and Datuk Seri Dr Wan Azizah Wan Ismail to members of the Swiss Cabinet, 1MDB said it was the right of the Swiss National Council to debate any motion put before it and to make any decision that its members deemed appropriate.

Lim and Dr Wan Azizah had sent letters urging Swiss lawmakers to vote in support of the motion that is to be debated in the lower house. Voting is expected to take place tomorrow.

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