(Bloomberg) -- Malaysia pushed back a hearing for Goldman Sachs Group Inc.‘s 1MDB case to September after a lawyer representing the U.S. bank said the process of filing the charges remains incomplete.
The court set Sept. 30 as the next case management date at a hearing on Monday in Kuala Lumpur. Deputy Public Prosecutor Aaron Paul Chelliah said four summons had been issued against Goldman Sachs entities. Two were served on Goldman Sachs (Asia) LLC, which has two addresses, while others were sent to Goldman Sachs International (UK) and Goldman Sachs (Singapore), Chelliah added.
However, Goldman’s lawyer Hisyam Teh Poh Teik sought a delay in the hearing after saying the charges remain incomplete.
“Their clients have some reservations on whether they were properly served,” Chelliah said, referring to the U.S. firm. “Our position is they have been served.”
The U.S. bank is accused of misleading investors when it arranged $6.5 billion of bond sales for 1MDB while allegedly knowing that the funds would be misappropriated. Prosecutors are seeking fines in excess of the $2.7 billion allegedly misappropriated from the proceeds, and the return of $600 million of fees received by Goldman.
A representative for Goldman declined to comment. The bank has denied the allegations and said it will defend against the charges.
In seeking the delay, Goldman Sachs’s lawyer Hisyam said only three of four charges have been served to the Singapore unit, while the summons only reached Goldman Sachs (Asia) last week. David Cope, head of financial crime compliance for Goldman in Asia Pacific, was present in court to represent all three of the units, Hisyam said.
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