KUALA LUMPUR/SINGAPORE - A Malaysian court set a new pre-trial hearing date for the criminal case against Goldman Sachs Group relating to the state investment fund 1Malaysia Development Berhad .
The June 24 hearing will give the court more time to serve summons against two of three Goldman Sachs units at the centre of the allegations.The New York-based bank is accused of misleading investors when it helped 1MDB raise US$6.5 billion through bond deals in 2012 and 2013, while allegedly knowing that the funds would be misappropriated.
Prosecutors have said they will seek criminal fines in excess of the US$2.7 billion allegedly misappropriated from the bond proceeds, and the return of US$600 million of fees received by Goldman. Malaysia has filed the charges against Goldman Sachs International , Goldman Sachs and Delaware-based Goldman Sachs .
Goldman Sachs has denied the allegations and said it will defend the charges, which Malaysia announced in December.