Najib Razak raid nets $370 million worth of cash, jewellery, handbags and watches in 1MDB probe
Updated about 3 hours ago
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VIDEO: Malaysian police raid the home of former prime minister Najib Razak (Photo: AP) (ABC News)
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It took three days, six counting machines and 22 officials from the central bank to total the amount of cash seized in a raid of homes linked to Malaysia's former prime minister.
In the end the jewellery, handbags, watches and other items seized from premises linked to former prime minister Najib Razak totalled more than $370 million.
The cash totalled $39.2 million.
Authorities are investigating Mr Najib as part of their probe into how billions of dollars went missing from state fund 1Malaysia Development Berhad (1MDB), which was founded by the former premier.
Since unexpectedly losing a general election to Mahathir Mohamad in May, Mr Najib has been barred from leaving the country, questioned by the anti-graft agency and had his personal and family houses searched as part of the 1MDB probe.
PHOTO: Malaysian police say the total value of cash, jewellery and hundreds of watches and handbags seized from properties amounted to $273 million. (AP: Vincent Thian)
Amar Singh, head of the Malaysian Police commercial crime division, told a news conference that the retail cost of all the items seized from six homes linked to Mr Najib totalled between 900 million ringgit and 1.1 billion ringgit (between $303.5 million and $369.9 million).
"We couldn't do the counting at the premises because the numbers were too huge," Mr Singh said.
He said the seizures were the biggest in Malaysian history.
Police seize 567 handbags
Jewellery accounted for the biggest portion of the seizure — 12,000 pieces of jewellery that Mr Amar said would cost between 660 million and 880 million ringgit (between $222 million and $296 million) at retail prices.
He said the single most expensive item was a diamond necklace with yellow gold — worth 6.4 million ringgit ($2.15 million) at cost price.
Authorities are yet to establish who the owners of the seized items are, Mr Amar said, adding that Mr Najib and his wife Rosmah Mansor would "soon" be called in for questioning.
PHOTO: Malaysian police confiscated dozens of suitcases containing cash, jewellery and other valuables in May. (AP)
Mr Amar also said police seized a total of 567 handbags in 37 different brands. The Hermes bags alone were worth 51.3 million ringgit ($17 million), he said.
The police also found 423 watches worth 78 million ringgit ($26.2 million) and 234 pairs of sunglasses.
Mr Mahathir, in an interview with Reuters last week, said Mr Najib was fully responsible for the 1MDB scandal and that authorities have "an almost perfect case" against the former leader.
Mr Najib, who led the country for almost a decade, has consistently denied any wrongdoing, having explained three years ago that the nearly $950 million transferred into his account had been a donation from an unnamed Saudi royal.
The US Department of Justice has said the money came from 1MDB, and that a total of $6.1 billion was misappropriated from the fund.
Speaking to Reuters exclusively last week, Mr Najib said he should not be blamed for the alleged stealing from 1MDB, and declared he knew nothing about the money from the state fund appearing in his bank account.
http://www.abc.net.au/news/2018-06-...andbags-from-premises-linked-to-razak/9915602
