Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on March 19, 2019

KUALA LUMPUR: The Attorney General’s Chambers (AGC) told a court yesterday that it had some documents but not the complete set relating to ex-Goldman Sachs banker Roger Ng’s case involving misleading investors of 1Malaysia Development Bhd (1MDB) bonds.

Deputy public prosecutors (DPPs) Zaki Asyraf Zubir and Aaron Abhilash Paul Chelliah, appearing on behalf of the AGC, told the Sessions Court that the prosecution had some supporting documents but not the full set.

They said this after Ng’s counsel, Datuk Tan Hock Chuan, complained to the court that the defence had yet to receive any document from the prosecution to prepare for the trial.

Ng, 47, was charged in the Kuala Lumpur Sessions Court on Dec 19 last year with four counts of abetting Goldman Sachs in selling 1MDB bonds totalling US$6.5 billion, by leaving out material facts and making false statements. He pleaded not guilty.

The prosecution admitted to the court that the supporting documents to be used in the case were incomplete. The DPPs asked the court not to make any order for the AGC to hand over all the documents before the next case management date.

The prosecution said the issue in this case is a bit complicated as it involves documents needed to be obtained from local and international sources.

Zaki told the court that the prosecution had informed the Magistrate’s Court yesterday morning that they had served the summons issued by the court earlier to Goldman Sachs Singapore.

However, they had yet to serve the summons to Goldman Sachs UK and Hong Kong. “It’s just a process to tell the court that the summons issued by the Magistrate’s Court has been served,” he said.

According to the prosecution, Goldman Sachs International, based in the UK, is the principal offender. The summons against the three entities — Goldman Sachs UK, Hong Kong and Singapore — concerned the issuance of documents with misleading statements and material omissions to investors and potential investors, an offence under the Capital Markets and Services Act 2007.

Zaki said the prosecution has begun serving the summons and the magistrate then fixed the next mention date for June 24, 2019. “Thus, the prosecution views it would be more practical to have Ng’s case mentioned together with the summons,” he added.

Earlier, Tan told the court that until yesterday, the defence had not been served any papers from the prosecution even though they had written to the AGC on Dec 31 last year for the documents to be served.

He stressed it could not agree with the prosecution requiring the court to fix the case for mention in June this year.

“It’s too long, Yang Arif, and my learned friend (the prosecution) said they need to get documents from overseas.

“Are we saying there were no documents before the charging? Are we saying the investigation was incomplete when the charges were being heard on Dec 19, 2018?” he asked.

Tan said under section 43 of the Extradition Act, his client should have been surrendered to the US to face three criminal charges not later than 90 days, and Ng can be extradited earlier but not later. In short, Ng must be surrendered to the US by May 15, 2019.

He said the case management or mention date proposed by the prosecution is unsuitable, suggesting the next case management be held not later than 30 days from yesterday taking into account the factors which the defence had made.

Sessions Court Judge Hasbullah Adam then fixed the date for further case management for April 15. However, he did not make any order concerning what documents must be served to the defence.

Aaron told reporters that the prosecution will issue fresh summons on Goldman Sachs UK and Hong Kong, asking them to be present in court on June 24 this year. He said the prosecution had begun the summons process but Goldman Sachs UK did not respond to it.

The AGC needs them to respond by June to the criminal charges filed against them last year. The AGC had charged three units of Goldman Sachs with misleading investors and potential investors by making untrue statements and omitting key facts concerning bonds issued totalling US$6.5 billion for 1MDB.

However, only the representative from Goldman Sachs Singapore appeared in the Magistrate’s Court yesterday morning.

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