The Estate of former Indonesian Vice President, Adam Malik, continues to seek the missing billions owned to not only the Malik family but to many other Indonesians. Dr. Levy has been pursing this legacy for several years in the United States, Singapore, Indonesia, and Switzerland.
CHF 15-30 Billion in Dispute
November 26, 2019
A long-standing dispute between the estate of the former Indonesian Vice President Adam Malik and Switzerland has resulted in a demand that Switzerland formerly establish an independent commission of experts to study and access the necessary archives to determine and shed light upon the whereabouts of billions of Swiss Francs (CHF) in Indonesian bank accounts and gold deposits from the Sukarno and Suharto eras, belonging to genocide victims and their heirs and accounts containing the proceeds of genocide.
Between 1965-1966, experts estimate between 1,000,000 to 3,000,000 Indonesians were targeted for execution during the period of mass killings that marked the overthrow of the Sukarno government. Those targeted included Communist Party of Indonesia (PKI) party members, alleged Communist sympathizers, ethnic Abangan Javanese, ethnic Chinese, Christians and alleged leftists, often at the instigation of officials with a monetary motive. Switzerland at the time was a popular banking provider for Indonesians.
Switzerland is alleged to have pursued a policy of seizing and converting Indonesian accounts whose owners were dead, imprisoned unable to come to Switzerland due to political upheaval, or stood accused of political crimes. At least 15 billion CHF remains unaccounted for from the Sukarno-Suharto era and perhaps as much as 30 billion CHF.
The Malik Estate is demanding Switzerland immediately return CHF 100 million to it that was sequestered upon the death of Adam Malik in 1984 and has been in dispute ever since. Formerly, the Malik Estate held the Swiss banks responsible but now point to an overall confiscatory policy by Switzerland similar to the plight of WW2 Jewish depositors and laundering of Nazi gold.
A copy of the petition is attached