Malaysia: Cash, luxury items seized from ex-PM Najib’s residences valued at over SGD300mn

  • Items seized from six premises linked to Malaysia’s ousted prime minister Najib Razak as part of the 1Malaysia Development Berhad (1MDB) probe are valued between MYR900mn and MYR1.1bn – making it the biggest seizure the police has ever made in the country’s history.
  • Police’s Commercial Crime Investigation Department (CCID) chief Amar Singh Ishar Singh said the cash seized from 35 bags amounted to MYR116.7mn in 26 currencies.
  • “It took us three days to calculate. We were assisted by 22 officers from Bank Negara,” he said at a press conference on 27 Jun 18.
  • He further revealed that out of the 72 large luggage bags seized, 25 contained jewellery such as diamonds, bangles and earrings.
  • “About 12,000 items of jewellery were seized worth MYR440mn, without taking into account workmanship costs. Among them were 1,400 necklaces, 2,200 rings, 2,100 bangles, 2,800 pairs of earrings, 1,600 brooches and 14 tiaras,” he said, adding that the market value would be between 50% and 100% more, or an estimated MYR660mn to MYR880mn. We took 16 days to count,” he added.
  • Datuk Seri Amar said the most expensive necklace is a MYR6.4mn gold and diamond necklace.
  • The police also seized 567 luxury handbags, including high-grade counterfeits, worth MYR51.3mn from 37 brands, including Hermes and Chanel.

External Link: