Was there an agreement between Goldman Sachs and the Malaysian government for higher compensation?

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Aliran released this media statement yesterday:

In Tommy Thomas’ autobiography My Story: Justice in the Wilderness, the former attorney general said he was “confident of recovering” from Goldman Sachs the huge losses the Malaysian government suffered from three 1MDB bond issues.

Thomas put forward a figure of over $9.6bn (about RM43bn) as the loss of principal and interest, before deduction of monetary benefits from the bonds (pp 315, 317).

However, when Mahiaddin Yasin and his team took over the government through the back door, his administration reportedly ‘settled’ for a measly $2.5bn (RM11bn) plus a $1.4bn undertaking for assets recoverable. That comes up to about $3.9bn (about RM17bn). This is vastly lower than Thomas’ figure.

Aliran urges the Anwar Ibrahim-led government to look up the previous administrations’ records.

Did Goldman Sachs agree to a much higher figure with the Malaysian government before Mahiaddin’s settlement?

If so, was there an agreement signed between the government and Goldman Sachs for this higher sum?

If there is such an agreement in existence which was not revealed to the public, we urge Anwar’s government to make the agreement public.

Rather than investigate certain issues in the entire book to placate certain quarters, Aliran believes it would be more productive for the Malaysian government to focus its attention on the chapter on Goldman Sachs (pp 301-323).

In fact, the entire settlement between Goldman Sachs and Mahiaddin’s negotiating team should be the subject of a thorough forensic audit.

Aliran executive committee
18 March 2023

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Esme
Esme
19 Apr 2023 2.26pm

Pras Michel, a member of 90s hip hop band Fugees, has claimed that Malaysian financier Low Taek Jho paid him US$20 million (RM88.6 million) to get a photo taken with then US president Barack Obama back in 2012.

During his lobbying trial in Washington, Michel said that Low, notoriously known as Jho Low, had paid the amount over nine months to hire him as a “celebrity surrogate” to make the photo wish a reality.

enid
enid
11 Apr 2023 8.35pm

The downfall of Malaysia’s Sapura Energy

Brocky
Brocky
2 Apr 2023 10.04am

Why is Najib still holding royal titles after being convicted from High Court all the way up to Federal Court? How much would he have to steal before his titles are withdrawn?

Brocky
Brocky
31 Mar 2023 10.48am

PUTRAJAYA, March 31 — The Federal Court in a 4-1 decision today refused disgraced former prime minister Datuk Seri Najib Razak’s bid for it to review its ruling last year upholding his conviction for misappropriating RM42 million from SRC International, cementing his 12-year sentence and RM210 million fine.

glissantia
glissantia
27 Mar 2023 2.43pm

State legislator Sallehudin Amiruddin lodged a police report stating that for this settlement, “a political party” got a RM500 million payment. The news media reported this on 2021-03-20,
 

glissantia
glissantia
27 Mar 2023 1.23pm

News of the the royal commission to “investigate” TT seems to have died down. Did someone get cold feet? These are people who seem helpless on crirical issues – including the Sulu claimants despite all the points TT contributed in a letter to Star.

Bhaskar
Bhaskar
28 Mar 2023 4.29pm
Reply to  glissantia

Najib stopped paying rent to Sulu after the Lahad Datu incident. So the Sulu descendants are pushing to get their rights and assets.

Brocky
Brocky
29 Mar 2023 2.20pm
Reply to  glissantia

There are others more worthy to be investigated compared to TT, now that the Pandora Papers have exposed many overdue cases, perhaps after the Puasa month?

Esme
Esme
22 Mar 2023 9.03am

Muslim men cannot wear shorts in public?

https://m.malaysiakini.com/news/659552

Anil or Aliran can help to clarify?

Esme
Esme
23 Mar 2023 3.45pm
Reply to  Anil Netto

Netizens are trolling enforcement authorities in Kelantan for issuing warning notices to seven men for wearing thigh-length shorts.

One netizen said in the past, police officers wore short pants while on duty, but now, action could be taken against members of the public for dressing in a similar way.

https://www.nst.com.my/amp/news/nation/2023/03/891756/netizens-troll-kelantan-enforcement-authorities-over-shorts-warning

Bhaskar
Bhaskar
28 Mar 2023 4.28pm
Reply to  Esme

Now Muslim guys also must tutup aurat?

Madani government must be clear on dressing guidelines.

Esme
Esme
21 Mar 2023 5.49pm

KUALA LUMPUR, March 21 — The Perikatan Nasional (PN) coalition will not accept Parti Pejuang Tanahair as a member, Datuk Seri Hamzah Zainuddin said today.

Wah Chye
Wah Chye
30 Mar 2023 4.13pm
Reply to  Esme

Sanusi will not want Mukhriz to challenge him for MB post in Kedah. The old [man] can only make noise still Langland folks already mudah lupa!

Esme
Esme
20 Mar 2023 12.49pm

Such low settlement could raise suspicion on what really transpired and MACC should open an immediate investigation?

https://m.malaysiakini.com/news/659279

Mike
Mike
19 Mar 2023 2.20pm

9.6 billion – 3.9 billion = RM5.7 billion a big difference.

Forensic tracing must start now otherwise rakyat money go to unscrupulous individuals.

Mike
Mike
20 Mar 2023 4.27pm
Reply to  Anil Netto

Forensic audit to recover people’s money is reportedly on the way per inside information?

https://youtu.be/dAXezzCC83s

glissantia
glissantia
27 Mar 2023 2.38pm
Reply to  Mike

1MDB raised $6.5b in bonds for 10% commission. -US DoJ 2014