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10 APRIL 2024

Wednesday, February 28, 2018

Harapan to claim 1MDB-linked funds from Swiss gov't if elected - Dr M

A Harapan-led Putrajaya will seek to claim US$400 million 1MDB-linked money from the Swiss monetary authorities, its chairperson Dr Mahathir Mohamad said today.
“When we head the government we will claim the money. The Swiss government is not going to steal the money.
“We have a right to claim the money,” the Bersatu chairperson told a press conference in Kuantan today.
“They can’t spend the money,” he said when asked for comments on a report that the Swiss government is looking to absorb CHF95 million (RM400 million) from 1MDB-linked funds seized from several banks.
Mahathir also claimed that the Swiss government would not release the money described as “illegally generated profits” to the present BN government under Prime Minister Najib Abdul Razak.
According to a report in Z├╝rich-based Tages Anzeige, the Swiss government is allowed to recover illegally generated profits.
The news organisation also quoted Swiss Finance Minister Ueli Maurer as stating that the funds had already flowed into the Federal Treasury because there were no claimants.
Maurer had communicated this to the Basel-based NGO Bruno Manser Fonds, which sought the restitution of the funds to Malaysia.
On Jan 22, the Swiss Financial Market Supervisory Authority (Finma), in a correspondence to a coalition of 112 Malaysian NGOs seeking the restitution of the funds, said the confiscated profits are with the Swiss treasury.
‘No money to settle 1MDB debts’
Mahathir, meanwhile, also dismissed the government’s reported plans to cease operations of 1MDB as soon as all of its debts are paid off.
“How is the government going to pay off the debts? Tell us where is the source of the money,” said Mahathir who reiterated that Malaysia’s finances are in a dire state under the current BN administration.
1MDB chairperson Irwan Serigar Abdullah yesterday revealed that
the controversial state investment fund will be shut down as soon as all of its debts are paid off.
He also expressed confidence the company would be able to do so through its ongoing rationalisation programme.- Mkini

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