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.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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...
Source: malaymail - 🏆 1. / 86 Read more »