This article first appeared in The Edge Financial Daily on February 10, 2020

KUALA LUMPUR: Having successfully transferred all cases involving Goldman Sachs to the High Court, the prosecution is now seeking to transfer former Goldman Sachs banker Roger Ng Chong Hwa’s (pic) four charges from the Sessions Court to the High Court as well.

A case management for Ng’s case took place last Thursday before High Court deputy registrar Catherine Nicholas, and another case management has been fixed for Feb 18 to allow the prosecution to have their papers in order.

It was previously reported that Ng is expected to return in April this year from the US, where he is facing criminal charges of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, conspiracy to violate the internal accounting control provisions of the Foreign Corrupt Practices Act and conspiracy to commit money laundering before the US District Court, Eastern District of New York.

He had first been extradited from Malaysia to face the US indictment last year.

In December 2018, Ng, 47, claimed trial in the Sessions Court to four charges of abetting Goldman Sachs in the sale of the guaranteed notes and bonds belonging to 1Malaysia Development Bhd’s (1MDB) subsidiary by omitting material information and publishing untrue statements.

Each of the charges under Subsection 370(c) of Capital Markets and Services Act 2007 carry a punishment of up to 10 years imprisonment and a fine of not less than RM1 million, upon conviction.

Under the first charge, Ng is accused of abetting Goldman Sachs International in the omission of material facts in the issuance of 10-year US$1.75 billion bond by 1MDB Energy Ltd, while the second charge is in relation to omitting material facts in a 10-year US$1.75 billion bond issuance by 1MDB Energy (Langat) Ltd.

The third charge is related to omitting material facts in the issuance of 10-year US$3 billion bond by 1MDB Global Investments Ltd.

Among material facts allegedly omitted in these charges was that “a person named Low Taek Jho, 37, is the principal controller and intermediary of 1MDB”.

The fourth charge is abetting Goldman Sachs International in making untrue statements of material facts in offering circulars on the bond issued by 1MDB Global Investments.

In the three bond issuances, Goldman Sachs International was either the bookrunner or arranger, or both.

Last Wednesday, the High Court allowed the summons against Goldman Sachs (Singapore) Pte Ltd, to be heard in the High Court, after it had earlier allowed cases involving Goldman Sachs International based in London, Goldman Sachs (Asia) LLC based in Hong Kong and another based in New York, to be heard at the High Court.