Seized Cash and Luxury Goods Are Valued at RM1.1 Billion

Malaysia Chronicle Photo

RM440 million worth of jewellery and RM116.7 million cash was seized from residences linked to former prime minister Najib Razak, police said today.

Including other items such as handbags and watches, the total value of items seized are estimated to be between RM900 million and RM1.1 billion, said Bukit Aman Commercial Crime Investigation Department director Amar Singh Ishar Singh.

Amar Singh said of the jewellery, the number of items alone was 12,000 and included 14 tiaras, rings, diamonds, bangles and earrings.

Among the more expensive pieces was a RM6.4 million necklace with a white diamond.
He told a press 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.

Also seized were 567 handbags from a 37 brands that included Hermes, Prada, Versace and Chanel, among others. One of them, under the brand Bijan, was custom-made and is not available on the market.

For the Hermes bags alone, of which there were 272 pieces, the value was RM51.3 million.

Read more on Malaysia Chronicle 

Related News :

Seized Cash and Luxury Goods Linked to Malaysia's Former Prime Minister Are Valued at $273 Million

Value of cash and goods seized from Najib-linked residences amounted to about RM1bil

Malaysia Arrests Najib Ex-Aide in 1MDB Probe: Media