Items, cash seized from properties linked to Najib could hit RM1.1b, say cops

KUALA LUMPUR (June 27): The combined value of jewellery, handbags, watches and other items seized from premises linked to former prime minister Datuk Seri Najib Razak could be worth nearly RM1.1 billion, say reports today.

Bukit Aman Commercial Crime Investigation Department director Amar Singh Ishar Singh told the media that among the jewellery, there were 12,000 items which included 14 tiaras, rings, diamonds, bangles and earrings.

There was also a RM6.4 million necklace with a white diamond, according to a report by The Malaysian Insight.

The news portal also reported Amar Singh telling a media conference today that the jewellery valuation of RM440 million “was only for the materials and did not factor in workmanship, design and other costs involved in sales, which would be 50% to 100% more”.  

Among the seized items were 567 handbags from 37 brands that included Hermes, Prada, Versace and Chanel. A custom-made Bijan brand handbag is not available on the market, said The Malaysian Insight report.

There were 272 Hermes bags valued at RM51.3 million.

The cash found in the premises was in 26 currencies

Amar Singh said it took three days to count the cash with the help of 22 officers from Bank Negara Malaysia and six counting machines. It also involved 150 police officers and other personnel.

“We worked over the Hari Raya holidays.”

Other items confiscated included 100 brands of 423 watches and 234 sunglasses. The latter are worth RM374,000.

“The amount was just too huge. This is the biggest seizure in Malaysian history,” The Malaysian Insight reported Amar Singh telling the media

He added that even the police were surprised at the amount seized.

Amar Singh also explained that probes into all items and cash seized were being conducted under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. 

Allegations of massive corruption were a major factor behind the shock election loss of ex-premier Najib's Barisan Nasional in elections last month to Pakatan Harapan.

Najib and his cronies were accused of plundering billions of dollars from sovereign wealth fund 1MDB and using it to buy US real estate, artworks and other luxury items. Najib and the fund deny any wrongdoing.

Najib’s wife Rosmah Mansor became a lightning rod for public anger owing to her vast collection of handbags and jewels, and her reported love of overseas shopping trips, said an AFP report.