Malaysiakini KiniGuide

How 1MDB funds did (or didn’t) end up in Switzerland

KiniGuide  |  Published:  |  Modified:

KINIGUIDE | Over the past few years, there have been contradictory claims regarding the 104 million Swiss francs (RM403 million) that are now parked with the Swiss Federal Treasury.

Swiss authorities claim that the money was illegal proceeds from 1MDB-linked transactions that passed through its financial system.

The Swiss government intends to absorb the funds since there were no claimants and a bid by a group of Swiss parliamentarians to urge their government to return at least part of the funds to the Malaysian people was voted down in the Swiss National Council.

Nevertheless, efforts are underway by Malaysian NGOs and a group of Swiss lawmakers to put the matter back in the Swiss Parliament.

1MDB and the Finance Ministry that owns it, meanwhile, have said they would not claim the money because it does not belong to them in the first place. Both said there has been no misappropriation at 1MDB, and all monies are accounted for.

In this instalment of KiniGuide, we look into how the money got there, and what the various authorities have to say about it...

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