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KUALA LUMPUR: The Attorney General’s Office (AGC) dropped the criminal charges brought against Goldman Sachs and its Asian entities in relation to 1MDB today, but said the charges against former Goldman banker Roger Ng will continue.
The government had alleged that Goldman Sachs and its Asian entities had missed material facts by raising $ 6.5 billion in bonds for the purchases of independent 1MDB power plants, the Tun Razak Exchange and Bandar Malaysia projects.
Deputy Prosecutor (DPP) Masri Mohd Daud informed High Court Judge Mohamed Zaini Mazlan that the charges were being dropped during the mention of the case this morning.
“The prosecution does not wish to continue with the charges filed under the Capital Market and Services Law,” he said.
Attorney Hisyam Teh, who appeared on behalf of Goldman Sachs and its Asian entities, asked the court to grant a discharge and acquittal order to his clients, which the court agreed.
The government and Goldman Sachs had previously said that both parties agreed to settle claims related to the bond issue.
Goldman Sachs will pay the government a sum of 3.9 billion dollars as settlement.
Last week, $ 2.5 billion of the agreed sum was paid to the government in an escrow account.
However, the prosecution said today that it will proceed with the charges against Ng.
The former Goldman Sachs banker is currently in New York, where he was charged with conspiring to launder money and bribe government officials here and in Abu Dhabi through bond offerings that Goldman Sachs had handled.
He was extradited to New York from Kuala Lumpur last year.
Zaini set September 10 to mention the case of Ng.
Ng, who was slapped with four counts on charges that he instigated Goldman Sachs to omit material facts related to the $ 6.5 billion bonds, was represented by attorney Tan Hock Chuan.
