The searches, part of investigations into scandal-hit sovereign wealth fund 1MDB, netted 12,000 pieces of jewellery, bags containing almost $30 million in cash across 26 different currencies, more than 400 watches worth $19.3 million
Najib Razak
A vast trove of items seized in raids on properties linked to Malaysia's scandal-mired former leader, including cash, jewellery and luxury handbags, are worth up to $273 million, police said yesterday.
ADVERTISEMENT
The searches, part of investigations into scandal-hit sovereign wealth fund 1MDB, netted 12,000 pieces of jewellery, bags containing almost $30 million in cash across 26 different currencies, more than 400 watches worth $19.3 million, and other high-end designer goods. "I think this is the biggest seizure in Malaysian history," said Amar Singh, the police's head of commercial crime investigations, after officials completed the mammoth task of counting up all the items they uncovered in raids around Kuala Lumpur last month.
Malaysian Police's CCID Director, Amar Singh, shows pictures of seized items in Kuala Lumpur. Pics/AFP
He said the items were worth between $225 million and $273 million. The official salary of Najib Razak, the former premier, while in office was $5,670 a month. Allegations of massive corruption were a major factor behind last month's shock election loss of Najib's long-ruling coalition to a reformist alliance headed by Mahathir Mohamad.
Najib and his cronies were accused of plundering billions of dollars from 1MDB to buy everything from US real estate to artworks. Najib and the fund deny any wrongdoing.
His luxury-loving wife Rosmah Mansor became a lightning rod for public anger due to her vast collection of handbags and jewels, and her reported love of overseas shopping trips. The mind-boggling collection of luxury items listed by police will increase public anger at the former first couple.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
