Former AG sought to negotiate a higher settlement with Goldman Sachs, says Finance Minister

According to Tengku Zafrul, negotiations to seek an out-of-court settlement began after Goldman Sachs had rejected a RM4bil settlement sought by the former Pakatan Harapan administration, but instead made a counter-offer of RM1.5bil as settlement.

He said the letter contradicted the former attorney general’s assertion that the Perikatan Nasional government should not have accepted the out-of-court settlement. “Thomas had previously said he never made the statement that the government should not agree to an out-of-court settlement.” Former finance minister Lim Guan Eng subsequently questioned whether the US$2.5bil cash payment and US$1.4bil in the form of guarantees in assets, were approved by Cabinet.“Most importantly, an important settlement like this must be approved by the Cabinet, ” said Lim who is Bagan MP.

Speaker Datuk Azhar Azizan Harun intervened, saying that this was a decision by the Finance Ministry and it was definitely brought up to the Cabinet.

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Former finance minister: Even Goldman says US$1.4b in assets are those seized by governments | Malay MailKUALA LUMPUR, Aug 6 — US investment bank Goldman Sachs has effectively acknowledged that the US$1.4 billion (RM5.8 billion) in assets from its settlement with Putrajaya were those already confiscated by law enforcement globally, Lim Guan Eng pointed out today. The former finance minister cited a...
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