Don’t spare those responsible for ‘raw’ Goldman Sachs deal, says ex-MP

Free Malaysia Today

Charles Santiago says negotiators and lawyers who represented the government must account for their actions.    Read More:  https://www.freemalaysiatoday.com/category/nation/2024/01/24/dont-spare-those-responsible-for-raw-goldman-sachs-deal-says-ex-mp/  Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/01/24/jangan-lepas-pihak-terbabit-perjanjian-mentah-goldman-sachs-kata-santiago/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: http://bit.ly/2Rn6xEV Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on Twitter: http://bit.ly/2OCwH8a  Follow FMT on Instagram: https://bit.ly/2OKJbc6 Follow FMT on TikTok : https://bit.ly/3cpbWKK Follow FMT Telegram - https://bit.ly/2VUfOrv Follow FMT LinkedIn - https://bit.ly/3B1e8lN Follow FMT Lifestyle on Instagram: https://bit.ly/39dBDbe ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #CharlesSantiago #1MDB #GoldmanSachs

Transcript

00:00 A former MP has urged the government to act against those who represented it in a settlement

00:07 agreement with Goldman Sachs if they are found to have acted against the country's best

00:11 interests.

00:12 Charles Santiago, who previously described Malaysia's settlement with the multinational

00:17 investment bank as a "raw deal", said those responsible for the agreement must account

00:22 for their actions.

00:24 Malaysia was shortchanged in the settlement agreement.

00:27 No one can deny this.

00:29 I challenge anyone who feels the settlement is fair to come out and say so.

00:34 We had a solid case against Goldman Sachs and we let them get off easily.

00:39 Who will pay the price for this?

00:42 The Riyadh?

00:44 He was commenting on reports that the 1MDB task force is probing if negotiators and lawyers

00:49 representing Putrajaya in the settlement agreement reached their fiduciary duties or were negligent

00:55 in their responsibilities.

00:57 Yesterday, task force chairman Johari Gani said there were concerns that those who represented

01:02 the government at the time might have failed to secure a fair and adequate settlement from

01:06 Goldman Sachs.

01:08 Johari also highlighted that 1MDB paid unusually high advisory fees of US$606 million to Goldman

01:15 Sachs for advising on the issuance of the three bonds totaling US$6.5 billion.

01:21 Santiago also said he agreed with the task force's plans to sue the foreign banks that

01:26 facilitated 1MDB fund transfers without conducting proper know-your-client processes at the material

01:32 time.

01:34 Everyone who was involved in the 1MDB scandal must face the music.

01:39 The Malaysian people and economy have paid a heavy price for the 1MDB catastrophe.

01:45 It is disheartening to read that people entrusted to protect the country's interests may have

01:50 been negligent.

01:52 [MUSIC PLAYING]

Category

Transcript

Recommended