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Malaysian court delays case of Goldman role in 1MDB fund scandal

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AFP Kuala Lumpur
Last Updated : Jun 24 2019 | 4:00 PM IST

A Malaysian case against Goldman Sachs on charges linked to the US bank's role in the 1MDB scandal was postponed Monday until September after defence lawyers argued there was a problem with paperwork.

Malaysia filed criminal charges against three units and two ex-employees of the Wall Street titan in December, accusing them of giving false statements which led to the misappropriation of USD 2.7 billion in relation to bond issues for 1MDB.

Allegations that huge sums were looted from the investment vehicle -- in a fraud that allegedly involved former Malaysian leader Najib Razak -- contributed to the last government's election defeat last year.

At a procedural hearing in Kuala Lumpur Monday, Goldman lawyer Hisyam Teh Poh Teik said the Hong Kong unit of the bank received its summons just last week, while the summons sent to the Singapore unit only included three out of four charges.

The third Goldman unit in the case is based in London.

He asked for three months to get further instructions from his clients, and the judge set September 30 for another procedural hearing.

Prosecutor Aaron Paul Chelliah told reporters that the prosecution believed all documents had been properly served.

"Their clients have some reservations on whether they were properly served," he said. "Our position is they have been served."

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First Published: Jun 24 2019 | 4:00 PM IST

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