Goldman Sachs Criminal Case By Malaysia’s 1MDB Postponed To September

By John Heerdink LinkedIn

U.S. investment bank Goldman Sachs criminal case for misappropriation involving $6.5 billion 1Malaysia Development Berhad (1MDB) bonds was postponed to September 30th, 2019. The defense asked for more time in order to settle on facts and gain more information from their clients abroad. Malaysian prosecutors have summoned three units of Goldman Sachs in the United Kingdom, Hong Kong, and Singapore. An estimate of $4.5 billion raised by Goldman Sachs is believed to have been misappropriated from 1MDB between 2009 and 2014 as per The U.S. Department of Justice. While, Goldman Sachs (Asia) LLC, based in Hong Kong received summon last week, summons issued to the bank unit in Singapore was incomplete.

Lawyer Hisyam Teh stated “Under such circumstances, we ask for another date so that we will have enough time to take instructions from our clients,” as reported

Bank denied all the charges and said the certain members of the former Malaysian Government and 1MDB had misled them over usage of bond sales.

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Malaysia’s 1MDB criminal case against Goldman Sachs delayed to September

Malaysia’s criminal case against U.S. investment bank Goldman Sachs involving $6.5 billion 1MDB bonds will be postponed to September, a court ruled on Monday, after defence lawyers asked for more time to receive instructions from their clients abroad. Malaysian prosecutors had previously issued..

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