Case transfer delayed as prosecutors fail to serve summons on Goldman

(Bloomberg pic)

KUALA LUMPUR: The prosecution in the RM27.2 billion (US$6.5 billion) 1MDB bond cases against Goldman Sachs has requested to delay the case management date as it was unable to serve a summons on the company.

Deputy public prosecutor Zaki Asyraf Zubir told High Court judge Mohamed Zaini Mazlan today that the delay was due to Goldman’s refusal to accept the summons on technical grounds.

“Due to the existence of an old date, they refused to accept our summons served on them. They required a new date to be affixed on the document before they accept it,” Zaki told the judge.

Zaini has fixed Feb 5 for the case to be mentioned.

The court today was supposed to hear the prosecution’s application to transfer the case from the magistrate’s court to the high court.

The transfer could only be done only if the summons has been served on Goldman, represented by counsel Krishna Dallumah and Prem Ramachandran.

Meanwhile, magistrate Nur Farah Ain Roslan agreed to issue a new summons with the new date and charges.

Last year, the prosecution filed four charges against Goldman Sachs for allegedly leaving out material facts on the sale of bonds between a subsidiary of 1MDB and Aabar Investment PJS Ltd.

The offences were allegedly committed at 1MDB’s premises at Jalan Sultan Ismail here, between March 19, 2012, and Nov 11, 2013.

The company was charged under Section 179(c) of the Capital Markets and Services Act, which carries a jail term of up to 10 years and a maximum fine of RM1 million if found guilty.

Goldman Sachs International, its two entities, former banker Tim Leissner, former 1MDB general counsel Loo Ai Swan and fugitive businessman Low Taek Jho were slapped with charges related to the issuance of the US$6.5 billion bonds.

Another former banker, Roger Ng, pleaded not guilty at the Sessions Court in December last year to four charges of abetting in the alleged offence under Section 179 (c) of the Capital Markets and Services Act.

Another 17 directors from Goldman Sachs International and its two entities were also slapped with charges of abetting under the same act.

Ng is currently in New York to face criminal charges of conspiring to launder money and bribe government officials in Malaysia and Abu Dhabi.