Behind the Swiss Vote on Fund Repatriation
Lukas Straumann
15-Mar-18 08:35
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Later today, Swiss lawmakers will be voting on a motion to amend the law on how to handle ill-gotten bank profits seized by authorities. This is related to the 104 million Swiss francs (RM430 million) that is currently held by the Swiss Treasury -- monies from a fine by the Swiss bank regulator Finma on three banks.
Yesterday 1MDB released a statement saying the money does not belong to 1MDB, and cannot be claimed by the government of Malaysia.
The Ministry of Finance has also refuted Swiss lawmakers’ allegations that 1MDB’s assets have been misappropriated.
Civil society groups however have been calling for the repatriation of seized funds to Malaysia. One of the NGO is the Swiss-based Bruno Manser Fonds.
We speak to Lukas Straumann, Executive Director of Bruno Manser Fonds.
Presented by: Melisa Idris
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Tags: 1MDB, Switzerland, parliament, repatriation, seized assets