KUALA LUMPUR: Opposition lawmaker Tony Pua yesterday slammed 1Malaysia Development Bhd’s (1MDB) denial of ownership of the 104 million Swiss francs (RM430 million) currently held by the Swiss Federal Treasury.

In a statement yesterday, Pua, who is member of parliament for Petaling Jaya Utara and DAP national publicity secretary, said 1MDB’s denial has “zero credibility”.

“If 1MDB money is fully accounted for, why hasn’t 1MDB made any full disclosure of its

accounts since 2014? In fact, 1MDB has not produced any legitimately audited accounts since March 2012 after Deloitte Malaysia withdrew their endorsement for 1MDB’s March 2013 and 2014 financial statements,” he said.

“Even when repeatedly requested by the auditor-general (AG) and the Public Accounts Committee (PAC), 1MDB has not only refused to submit its updated financial statements, the Ministry of Finance-owned subsidiary refused to even hand over a single bank statement of its accounts with foreign banks,” Pua added.

On Wednesday, 1MDB issued a statement to say that it has not lost any money, explaining that the 104 million Swiss francs held was actually a fine by the Swiss Financial Markets Authority (Finma) against certain banks and cannot be claimed.

“1MDB reiterates that it has not lost any money and that all its monies are fully accounted for,” it added.

Pua also accused its board of directors and top management of being as “proven liars”.

“Among other things, 1MDB has lied to everyone about the nature of its joint venture with Petrosaudi International Ltd, which masked the transfer of US$1.03 billion [into] the bank account of Good Star Ltd in Switzerland.

“1MDB repeatedly testified that Good Star was a subsidiary of Petrosaudi, before Bank Negara Malaysia subsequently confirmed that Good Star’s sole shareholder was the fugitive Jho Low,” he said.

Pua went on to say that 1MDB president and chief executive Arul Kanda Kandasamy himself had repeatedly lied to both the public and the PAC, with perpetually shifting stories about 1MDB’s purported redemption of its US$2.3 billion “units” held in BSI Bank, Singapore.

“The 143-year-old Swiss bank had its licence withdrawn by the Monetary Authority of Singapore, and has since collapsed in the light of the 1MDB scandal. While the bank has collapsed, where are the US$2.3 billion (or whatever balance of the investment) units today?

“The list of lies from 1MDB is endless,” he said.

Pua claimed that the top management of 1MDB were the integral part of the conspiracy by top leaders of the country to steal tens of billions of ringgit from the Malaysian taxpayers.

“The mother of the mother of the mother of all scandals has already precipitated the single largest anti-kleptocracy legal suit by the US Department of Justice.

“Hence, given that the board and top management of 1MDB [are] part of the kleptocracy scam, how do they expect Malaysians to believe their denial of the ownership of more than RM400 million confiscated by the Swiss authorities?” he asked.