• 9 months ago
Charles Santiago says negotiators and lawyers who represented the government must account for their actions.



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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/

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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]

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