LAST_UPDATESun, 24 Jun 2018 11am

"The Money Does Not Belong To 1MDB", Company Issues Statement On RM430 Mil In Switzerland

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1Malaysia Development Bhd (1MDB) has issued a statement to clarify that the millions seized by Swiss authorities does not originate from the company.

Yesterday, Opposition lawmakers had issued public statements that the Swiss government will be debating on the confiscated funds this Thursday, 15 March and they announced that they have even gone to the trouble to personally lobby all the Swiss lawmakers to vote in their favour.

"With reference to the letters sent by YB Lim Kit Siang and YB Dato’ Seri Dr. Wan Azizah Wan Ismail to members of the Federal Assembly of Switzerland (Federal Assembly), in relation to a motion that is to be debated in the National Council (i.e. Lower House) of the Federal Assembly.

"It is of course the right of the Swiss National Council to debate any motion put before it and to make any decision that its members deem appropriate," the statement from 1MDB goes on to explain that the money is a result of a fine imposed by their financial governing body.

"Amongst others, an amount CHF 104 million (approx. RM 430 million) is currently held by the Swiss Federal Treasury. This actually represents the amount ordered as disgorgement of profit, by the Swiss Financial Markets Authority (FINMA), against certain banks, for alleged breach of Swiss laws. Therefore, the CHF 104 million is a result of a fine by FINMA, on certain banks," 1MDB added that the seized funds is being claimed by relevant banks.

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

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The motion tabled by Swiss lawmaker Carlo Sommaruga from the Social Democratic Party (SDP) on 16 June 2017 is entitled Repatriation of Corruption Funds to the Robbed Population which mentions multiple companies and countries.

The statement highlighted that it does not single out 1MDB, emphasising "It is not a specific motion on 1MDB or on Malaysia".

"FINMA itself has stated that only those "directly damaged" by the alleged actions of financial intermediaries in Switzerland are able to claim a share of any fines and that too, only through a legal process," the statement stressed that all the furor stirred up by the Opposition lawmakers was clearly misleading.

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

Earlier, PKR president Datuk Seri Wan Azizah binti Wan Ismail had released a statement posted on Facebook declaring that she had reached out to all the Swiss members of parliaments to appeal for the funds to be returned to the people of Malaysia.

“I have written to all 200 Swiss MPs to consider our request that the repatriation of the seized illicit funds of 1MDB be made by the Government of Switzerland to Malaysia within the framework of mutual legal assistance procedures with a priority of reimbursing the monies to a competent Malaysian government of the day unblemished by corrupt practices and untainted by kleptocracy,” she said.

- mD