Switzerland’s parliament is set to decide whether to return 104 million Swiss francs seized from troubled Malaysian wealth fund 1MDB.
At the end of 2017, Malaysian non-governmental organizations (NGOs) demanded the Swiss government return the money to the rightful owners, i.e. the people of Malaysia. The lower house of the Swiss federal assembly in Bern is now expected to vote on the matter by March 15, 2018 according to the Malaysian publication «Daily Express».
A group of MP's led by Socialist MP Carlo Sommaruga filed a motion demanding the return of at least part of the money seized in international corruption cases to the people of the countries where the money originally came from. His motion was sponsored by 26 fellow MPs.
After an investigation into alleged wrong-doing in the case, Swiss financial regulator Finma closed down BSI private bank and hit Falcon Private Bank with a fine. The Swiss government in turn seized 1MBD-related funds. Ueli Maurer, the Swiss finance minister, said funds from 1MDB are being held in the Swiss Federal Treasury as there were no claimants.
Despite repeated inquiries from the Swiss attorney general, Malaysian authorities have rebuffed requests for legal assistance in probing suspected corruption linked to the scandal-tainted state fund.
