Swiss government: Return the illicit gains of 3 Swiss Bank confiscated by FINMA
0 have signed. Let’s get to 500!
Malaysia is no stranger to the issue of corruption, which is now synonymous with 1MDB. This government-linked investment company (GLIC) acted a means of syphoning government funds and laundering the money through a complicated trail of banks throughout the world.
Read the Malaysia Kini article: NGOs seek RM433m in alleged 1MDB-linked funds from Swiss government
In Switzerland, the Swiss financial regulatory body, FINMA has confiscated 104 million Swiss francs in illicit gains from BSI (95 million CHF), Coutts (6.5 million CHF) and Falcon Private Bank (2.5 million CHF) relating to IMDB funds.
However, under Article 35 if the Swiss Financial Market Supervision Act of 22 June 2007, the confiscated assets GOES TO THE SWISS CONFEDERATION unless affected parties suffering loss make a claim. This is morally wrong as the confiscated assets are illicit gains and they only ended up in Switzerland because some of the banks involved in the laundering of billions of dollars of embezzled Malaysian state funds in violation of their legal and fiduciary duties happened to be Swiss.
Swiss-based NGOs Global Bersih and Bruno Manser Funds, in partnership with 112 civil society organisations (CSOs) in Malaysia led by Bersih 2.0 and C4, hereby urge the Swiss government to take the moral leadership by enacting necessary legislation and to set up the appropriate financial structure to enable the illicit gains to be made available to Malaysian civil society to combat corruption, to campaign for civil and human rights and for the betterment of Malaysian citizen's lives.
If they succeed, the NGOs will be channelling the money into an interim trust fund pending the 14th general election (GE14), so that it can be used for the benefit of all Malaysians.
"We feel that this money can't go back to the present government because they have a track record of using that money for elections, we don't want this money to be used for GE14. We have yet to decide on the management of the interim trust fund, but we will work with the Swiss government and the World Bank on the issue." ~ Bersih chairperson Maria Chin Abdullah
Please include your name AND/OR your organisation if you support this petition.
Today: Global Bersih - Malaysians Across Borders is counting on you
Global Bersih - Malaysians Across Borders needs your help with “Swiss Government: Return the illicit gains of 3 Swiss Bank confiscated by FINMA”. Join Global Bersih - Malaysians Across Borders and 407 supporters today.