Over Half a Billion Ringgit in Value Seized in 1MDB Probe

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Luxury goods alone exceed RM400 million in value.

The estimated value of the seized cash, jewellery and other luxury items from the residence of former prime minister Datuk Seri Najib Abdul Razak and other locations in the police probe on the 1Malaysia Development Berhad (1MDB) scandal might exceed half a billion ringgit.

Sources revealed that while the count of the seized wads of cash in local and various foreign denominations stood at RM114 million, the value of the confiscated jewellery and other luxury items such as branded watches and handbags, including those seized in a raid at two houses in Putrajaya on Monday, could exceed over RM400 million.

The tedious process of evaluating hundreds of the seized designer goods by third-party luxury merchandise experts engaged by police is ongoing and is expected to be completed in the coming weeks.

On Monday, more documents and 40 handbags were seized by the federal police anti-money-laundering division when they raided two houses in Putrajaya at Precinct 10 – a short distance from Seri Perdana, the official residence of the Prime Minister – and Precinct 11.

Federal police head of the anti-money-laundering division SAC Datuk Khalil Azlan Chik confirmed that the raid was conducted in relation to the probe into the 1MDB scandal.

The probe into the multi-billion ringgit scandal intensified days after the new Pakatan Harapan government took over the administration of the country after winning the general elections on May 9.

Najib’s residence in Taman Duta, three luxury units at the Pavilion Residence KL condominiums belonging to his daughter and son and an unnamed businessman with the honorific title of Tan Sri were raided over several days by the police federal commercial crimes investigations department (CCID).

CNN

The raiding party seized hundreds of bags containing cash, watches, designer brands such as Hermes, Birkin and Louis Vuitton handbags.

EPA

It took a dozen police lorries and vehicles to ferry the seized goods out of the raided places.

ST

Police also raided the former prime minister’s office in Putrajaya where stacks of documents relevant to the investigations were confiscated. – The Sun