Friday 29 Mar 2024
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KUALA LUMPUR (March 14): The Ministry of Finance (MoF) has refuted DAP parliamentary leader Lim Kit Siang's contention to Swiss lawmakers that 1Malaysia Development Bhd (1MDB) assets have been misappropriated.

"1MDB has informed the MoF in a series of queries made by the MoF that any allegations of its assets being embezzled or misappropriated either domestically or overseas are simply not true and politically motivated," 1MDB said in a statement today. Lim had written to the Swiss Parliament in regard to a motion to be debated in the Lower House on CHF104 million currently held by the Swiss Federal Treasury.

To its knowledge, MoF said the Swiss Financial Markets Authority (FINMA) was investigating several private banks in Switzerland amid complaints that these banks were flaunting money laundering laws and profiting illegally from several transactions without adequate background checks.

"We were advised that the CHF104 million (approximately RM430 million) actually represents the total amount in fines or penalties imposed by FINMA on various private banks for violations of the Swiss finance and banking laws and therefore, the CHF104 million are not monies belonging to the Malaysian government or any of its agencies or related companies," said the ministry.

It added that the impositions of fines have been disputed by the various Swiss banks and they are currently appealing to the Swiss Courts for the banks to be exonerated from any wrong doings.

MoF pointed out the checks and audit done by the Public Accounts Committee, Malaysian Anti-Corruption Commission, the Royal Malaysian Police, the auditor-general and other related agencies, did not detect any missing funds from 1MDB, and hence the ministry was in a difficult position to make a claim for the monies from the Swiss government.

 

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