 Sometimes working through the night, he found that "some ministers" had known about the negotiations but failed to stop it, and Reedy's signing of a document headed "Unconditional and Irrevocable Fee Agreement" was unauthorised and contrary to Treasury advice.The terms of 4% interest over 25 years were not believable; the money according to a telex from the embassy in Washington was probably laundered, fraudulent or non-existent; and the supposed source of the loan, one Achmed Omar of the Kuwaiti royal family did not exist.The loan was for $US 300 million, and papers released suggested that the proposal would use Māori land as collateral, and that as well as the 3.5% fee to Gicondi there would also be a 2.5% fee for Raepelle, totalling 6%.