Kit Siang fails to get Switzerland to ‘return’ RM430 million to Malaysia

(MT) – Swiss lawmakers today voted against repatriating CHF104 million (RM430 million) that Lim Kit Siang alleges was stolen from 1Malaysia Development Bhd (1MDB). Social Democratic Party of Switzerland international secretary Peter Hug said the National Council has rejected the motion from MP Carlo Sommaruga.

Yesterday, 1MDB explained that the RM430 million held by the Swiss federal treasury cannot be claimed by the firm nor by the Malaysian government, as the money does not belong to 1MDB but is a fine imposed on banks which allegedly breached Swiss laws.

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