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KUALA LUMPUR (June 24): Lawyers appearing for Goldman Sachs International, which is facing four summonses by the prosecution for capital market offences, have sought further time to study the summons served against the multinational investment bank and financial services company.
As such, magistrate Mohamad Fared Abdul Latif set Sept 30 for mention despite the prosecution, led by Aaron Paul Chelliah, having asked for a six-week adjournment.
Earlier, Fared allowed the transfer of one of the Goldman Sachs cases from magistrate court 5 presided by magistrate Namirah Hanum Mohamed Albaki to his court.
Goldman Sachs sent its representative David Cope, who is the head of Financial Compliance Crime, to appear in court today.
All in all, Goldman Sachs UK is cited as the principal offender while summonses are also issued to Goldman Sachs United States, Goldman Sachs Singapore and Goldman Sachs Asia (Asia) LLC based in Hong Kong.
The banker's lawyers, led by Hisyam Teh Poh Teik and comprising Datuk Prem Ramachandran, Krishna Dharma and Chethan Jethwani, told Fared that they have yet to receive one of the summonses and needed time to check on this.
"We need a period of three months. That would be sufficient period for us to check," said Hisyam, adding that the company was present when the proceedings began on March 24.
Aaron said that as far as the prosecution is concerned they had served all the summonses and his instruction was to only ask for a six-week adjournment.
The banker is summoned for misleading investors by making untrue statements and omitting key facts in relation to bond issues totalling US$6.5 billion in relation to state fund 1Malaysia Development Bhd (1MDB).
Former premier Datuk Seri Najib Razak is facing 25 charges in relation to money laundering of RM2.28 million, and three counts of criminal breach of trust, three counts of money laundering and one count of abuse of power in relation to 1MDB's subsidiary SRC International Sdn Bhd.
The former premier is already on trial for the SRC case while the other cases' trial dates had already been fixed.
Previously it was reported that former Goldman Sachs banker Roger Ng is facing a charge of abetment with the banker.
Ng has been extradited to the United States to face separate charges there.
Another former Goldman Sachs official, Tim Leissner, and Malaysian businessman Low Taek Jho have also been charged in the United States over the alleged theft of billions of dollars from 1MDB. Leissner has pleaded guilty.
A company facing summons for an offence under the Capital Markets and Services Act 2007 can be liable to a maximum fine of RM1 million.
