KUALA LUMPUR, Sept 30 — The prosecution in the case of Goldman Sachs Group Inc, which faces criminal charges involving US$6.5 billion worth of bonds related to 1Malaysia Development Berhad (1MDB), wants the case to be transferred from the Magistrate’s Court to the High Court.
Magistrate Mohamad Fared Abdul Latif set October 22 for further management of the case after Deputy Public Prosecutor Datuk Raja Rozela Raja Toran called for another date to file an application to transfer the case to the High Court.
Lawyer Hisyam Teh Poh Teik representing Golden Sachs did not object the application during the case management today.
In December last year, Malaysia filed four charges against Goldman Sachs for allegedly leaving out material facts on the sales of bonds between a subsidiary of 1MDB and Aabar Investment PJS Ltd (Aabar).
The offences were allegedly committed at 1Malaysia Development Berhad (1MDB), Level 8, Menara IMC, No. 8, Jalan Sultan Ismail, here, between March 19, 2012, and November 11, 2013.
The company was charged under Section 179 (c) of the Capital Markets and Services Act 2007 and punishable under Section 182 of the same Act which provides for imprisonment for a term not exceeding 10 years and fined not less than RM1 million, upon conviction.
Former Goldman Sachs banker Roger Ng Chong Hwa had also claimed trial to four counts of abetting the company pertaining to the sale of the same guaranteed notes and bonds by omitting material facts and making false statements.
The United States Department of Justice alleges that a total of about US$4.5 billion was misappropriated from 1MDB between 2009 and 2014. — Bernama
