Pua submits motion for PSC on recovery of 1MDB, SRC assets
Lawmaker Tony Pua (Harapan-Damansara) has submitted a motion to set up a Parliament Select Committee (PSC) to monitor and evaluate the government's actions in recovering cash and assets linked to 1MDB and SRC International.
The PSC would also cover settlement deals between the government and Goldman Sachs, International Petroleum Investment Corporation (IPIC) and Riza Aziz.
Lawmaker Tony Pua (Harapan-Damansara) has submitted a motion to set up a Parliamentary Select Committee (PSC) to monitor and evaluate the government's actions in recovering cash and assets linked to 1MDB and SRC International.
The proposed PSC will also handle settlement deals between the government and Goldman Sachs, the International Petroleum Investment Corporation (IPIC) and Riza Shahriz Abdul Aziz.
Pua said he plans to get this established fast by attaching an amendment to Ahmad Maslan's (BN-Pontian) motion in supporting the Yang di-Pertuan Agong's address to include a paragraph to establish the new PSC.
"I hope the speaker will allow this motion to be debated," he said at a press conference at Parliament's media room today.
"In recent weeks, we have seen the Perikatan Nasional government taking steps to reach settlements with various quarters in relation to 1MDB and SRC.
"These settlements have raised many questions and worries that Malaysia's rights have been compromised with those settlements," he said.
The PN government recently secured a USD3.9 billion settlement with Goldman Sachs over the bank's role in the theft of 1MDB funds.
However, critics have pointed out the bank will only need to pay USD2.5 billion in cash while the remaining is only a USD1.4 billion guarantee on the recovery of assets acquired using stolen 1MDB funds which is already being conducted by the US Department of Justice (DOJ).
The previous Pakatan Harapan government had sought USD7.5 billion in damages from Goldman.
Goldman was responsible for arranging three bonds for 1MDB amounting to USD6.5 billion, a substantial sum of which was subsequently misappropriated.
The bank had said it did not know that the proceeds it arranged would be misappropriated and had apologised to Malaysians for the scandal.
Commenting on the PN settlement, Pua cited former attorney-general Tommy Thomas who said the deal had not considered Malaysia's negotiating power.
Earlier in May, Riza, who is the stepson of former prime minister Najib Abdul Razak, was granted a discharge not amounting to an acquittal (DNAA) over five money laundering charges, subject to him fulfilling the terms of an agreement with the prosecution to return to the government millions of ringgit.
According to Attorney-General Idrus Harun, among the terms of settlement proposed by Riza’s solicitors in a letter dated Nov 18, 2019, was that the accused surrender his rights to three properties seized by the US Department of Justice (DOJ) in Beverly Hills and New York in the US and in London as well as for monies seized from him be forfeited by the Malaysian government.
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