KUALA LUMPUR - Malaysia's criminal case against United States investment bank Goldman Sachs involving US$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.
The US Department of Justice estimates US$4.5 billion was misappropriated from 1MDB between 2009 and 2014, including some of the funds that Goldman Sachs helped raise.On Monday, a lawyer for the bank said Goldman Sachs LLC, based in Hong Kong, had received its summons only in the past week, while another summons issued to the bank's Singapore unit was incomplete, with just three out of four charges served.
The bank says certain members of the former Malaysian government and 1MDB lied to it about how proceeds from the bond sales would be used.