1MDB: Some of the cars seized in Switzerland!
A collection of “super cars” registered in Geneva and owned by one of the main suspects of the financial scandal 1MDB was seized by the Public Ministry of the Confederation (MPC).
The Le Temps newspaper in Switzerland reported these rare models of sports cars, including Pagani and Bugatti worth up to 2.5 million francs each.
They belong to Khadem al-Qubaisi, former president of the Swiss bank Falcon and director of the Emirati sovereign fund IPIC.
This flamboyant financier has received more than $ 472 million from the looting of the Malaysian sovereign fund 1MDB, according to a civil complaint from the US Department of Justice. He was indicted in the 1MDB investigation in Switzerland.
A source said the Emirati financier had amassed some fifty cars, all carriers of Swiss plates, of which ten were still in Switzerland and thirty others elsewhere in Europe.
50 MILLION FRANCS AND SECRET WAREHOUSES
https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({});The value of this extraordinary collection would be around 50 million francs.
Some of these supercars are kept by the Geneva Vehicle Service, in warehouses kept secret for security reasons.
Khadem was removed from Abu Dhabi’s government-owned International Petroleum Investment Co (IPIC) and the Swiss bank Falcon in 2015. This was after misappropriations to the detriment of 1MDB began to appear.
The cars were seized last year. There are no reports what happened to them, since then.
Swiss authorities are still pursuing a collection of Geneva plate cars worth at least 45 million francs.
Some of them were seized in Geneva and Germany. Here is a complete list of these crazy vehicles with a total power of: 41,000 horses!
Hypercars bought with 1MDB money?
These care are six Bugatti, nine Ferrari, four Lamborghini, and «hypercars» from Koenigsegg or Pagan.
The seizures came after a Geneva court ordered the sequestration of these 61 superluxe cars in July 2018.
They belong to Khadem Al-Qubaisi. A sovereign wealth fund of Abu Dhabi, which he directed, claims today 171 million francs and had his car collection seized by the civil court of Geneva.
However, only 11 of his vehicles were found in Switzerland, the cheapest. They are worth “only” 2.17 million francs. So where did the remaining 50 cars go? Part of the collection has evaporated in foreign countries!
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Some of the cars bought with 1MDB money alledges Swiss authorities