Malaysia to summon two Goldman Sachs units linked to 1MDB scandal
Malaysian prosecutors said on March 18 that they would summon representatives of two units of US Investment Bank Goldman Sachs in London and Hong Kong to appear at a June hearing of a case linked to corruption in state investment fund 1MDB.
Illustrative image (Source: Sabi News)Kuala Lumpur (VNA) – Malaysian prosecutors said on March 18 that they would summon representatives of two units of US Investment Bank Goldman Sachs in London and Hong Kong to appear at a June hearing of a case linked to corruption in state investment fund 1MDB.
Prosecutor Aaron Paul Chelliah told reporters that fresh summonses will be served on the bank's Hong Kong and London offices ahead of the next pre-trial hearing on June 24.
Soon after being elected in May 2018, the new government charged three units of Goldman Sachs for misleading investors by making untrue statements and omitting key facts in relation to bond issues totaling 6.5 billion USD for state fund 1Malaysia Development Berhad (1MDB).
However, on March 18, only the Singapore unit of Goldman Sachs appeared at a pre-trial hearing in a Kuala Lumpur court as a respondent.
On December 17, 2018, Malaysia filed criminal charges against Goldman Sachs and two of the US bank's former employees Tim Leissner and Ng Chong Hwa.
According to Attorney General Tommy Thomas, the charges arise from the commission and abetment of false or misleading statements by all the accused in order to dishonestly misappropriate 2.7 billion USD from the proceeds of three bonds issued by the subsidiaries of 1MDB, which were arranged and underwritten by Goldman Sachs.
After assuming power, Prime Minister Mahathir Mohamad declared to give priority to addressing corruption and taking back losses of the 1MDB fund that was established by former PM Najib Razak in 2009.
Najib has been accused of involving in the loss of billions of USD in the bank’s transactions with foreign partners. He has pleaded not guilty.
The Malaysian Government set up a special task force to investigate the fund with the support from the US, Switzerland, Singapore, Canada, and other related countries.-VNA
You should also see
Vietnam becomes biggest rice supplier for Singapore
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
See more
ASEAN
Food security, climate change top ASEAN agenda during Malaysia’s chairmanship
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
World
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on April 19 issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
World
Indonesia’s Mount Ruang continues to emit ash
After a series of eruptions earlier this week that forced thousands to evacuate, Mount Ruang in North Sulawesi, Indonesia, continued to emit ash on April 19 afternoon.
World
Thailand gives financial support to Laos for road maintenance
The Thai cabinet has approved 1.8 billion THB (about 48.8 million USD) in financial assistance for the Lao Government to maintain and improve Highway R12, shortening the travel time from Thailand’s Nakhon Phanom province, through Laos, to the Vietnamese border in central Quang Binh province.
World
Indonesia develops sustainable tourism
Indonesia has been working to realise its goal of building a quality, sustainable and environmentally friendly tourism industry.
