1MDB reiterates it did not lose any money
1MBD stresses that it has not lost any money and that the 104 million Swiss francs (RM430 million) held by the Swiss Federal Treasury does not belong to it.
1MALAYSIA Development Bhd (1MDB) has reiterated that it has not lost any money and that the 104 million Swiss francs (RM430 million) held by the Swiss Federal Treasury does not belong to it.
1MDB said the amount in question could not be claimed by the firm nor the Malaysian government.
“1MDB has stated and reiterates that it has not lost any money and all its monies are fully accounted for.”
1MDB said the money held by the Swiss authorities was actually a “disgorgement of profit” (fine) imposed by the Swiss Financial Markets Authority (FINMA) on certain banks that had allegedly breached laws in the country.
Citing Swiss Finance Minister Ueli Maurer, 1MDB said the former had revealed that the banks had disputed FINMA’s actions and were appealing in the Federal Administration Court.
“Thus, the 104 million Swiss francs are being claimed by the banks. It cannot be claimed by 1MDB or the Malaysian government as the money does not belong to 1MDB. FINMA has stated that only those ‘directly damaged’ by the actions of financial intermediaries in Switzerland could claim a share of any fines and only through a legal process.”
It also said the motion submitted by Swiss member of parliament 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 motion on 1MDB or Malaysia,” 1MDB said, adding that the Swiss Federal Council had on Aug 30 last year issued an analysis of the motion and proposed to reject the motion.
On the letters sent by opposition leaders Lim Kit Siang and Datuk Seri Dr Wan Azizah Wan Ismail to Swiss cabinet members, 1MDB said it was the right of the Swiss National Council to debate any motion put before it and 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.
The Finance Ministry, in a statement, refuted allegations by Lim and Dr Wan Azizah that 1MDB’s assets had been misappropriated.
It said 1MDB had informed the ministry that allegations of its assets being embezzled or misappropriated domestically or overseas were not true and politically motivated.
The ministry said to its knowledge, FINMA was investigating private banks in Switzerland following complaints that the banks were flaunting Swiss money laundering laws and illegally profiting from banking transactions without carrying out adequate background checks into business relationships and the transactions.
“We were advised that the 104 million Swiss francs actually represents the total amount in fines or penalties imposed by FINMA on private banks for violations of Swiss finance and banking laws,” it said.
“Therefore, the 104 million Swiss francs do not belong to the Malaysian government or any of its agencies or related companies.”
The ministry said checks and audit conducted by Malaysian enforcement agencies — including the Public Accounts Committee, Malaysian Anti-Corruption Commission, police and the attorneygeneral — had not shown or detected any missing funds from 1MDB.
“The ministry finds it difficult to take any position to make a claim from the Swiss government as the monies do not belong to the Malaysian public, as alleged by Dr Wan Azizah and Lim in their letters to the Swiss members of parliament.”