(June 27): Malaysian police seized as much as 1.1 billion ringgit ($372 million) of items that included Hermes and Chanel designer handbags, jewellery and watches in raids linked to former Prime Minister Najib Razak.
Items include a 3.5 million ringgit Rolex watch and a 6.4 million ringgit gold necklace were taken from five residences and an office linked to Najib, Commercial Crime Investigation Department Director Amar Singh told reporters on Wednesday. Eight teams consisting of more than 150 officers were involved in analysing them, he said.
The luxury objects were found alongside cash equivalent to about 117 million ringgit in various currencies when the police searched the properties last month, he said. Valuations may change as not all items seized have been completely analysed.
Prime Minister Mahathir Mohamad is seeking to recoup US$4.5 billion ($6.12 billion) of funds potentially lost through troubled state company 1MDB, which has spawned global probes from the US to Switzerland. Attorney-General Tommy Thomas is studying investigation papers for possible criminal or civil proceedings, with Mahathir previously saying that Najib would be charged with bribery and embezzlement of public funds.
See: Mahathir seeks to recover US$4.5 billion 1MDB funds, Goldman fees
