The whopping seizure is the largest in Malaysian history.
List of Excesses Seized:
- Cash seized on May 18 – RM116.7 mil in 26 currencies
- Appraised value of 12,000 pieces of jewellery – RM442mil, market price between RM660mil and RM880mil – comprising:
- 2,800 pairs of earrings
- 2,200 rings
- 2,100 bracelets
- 1,400 necklaces
- 1,600 brooches
- 14 tiaras
- Most expensive jewellery – RM6.4mil white diamond necklace
- 567 handbags made up of 37 luxury brands, value of 272 Hermes bags – RM51.3mil, remaining 295 still being valued
- 423 watches – RM78mil
- Most expensive watch – RM3.5mil Rolex Daytona
- 234 sunglasses – RM374,000
The cash and items seized from residences linked to Datuk Seri Najib Tun Razak amounted to between RM910 million and RM1.1 billion, say the police.
Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Amar Singh told a press conference on Wednesday (June 27) that it took police from May 21 to June 25 to ascertain the value of the cash and items seized.
“It took a long time (to count) because the figure was huge, and to ensure the integrity of the evidence is maintained.
“This is the biggest seizure in Malaysian history,” he said, adding that the case was classified under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
He said the total cash seized on May 18 was RM116.7 million in 26 currencies. It took three days to count with the help of 22 officers from Bank Negara Malaysia, using six counting machines.
“We worked over the Hari Raya holidays,” Amar said, adding that a total of 150 police officers and other personnel were involved.
More than 12,000 pieces of jewellery – comprising 2,800 pairs of earrings, 2,200 rings, 2,100 bracelets, 1,400 necklaces, 1,600 brooches and 14 tiaras were seized.
The most expensive item was a white diamond necklace that had a value of RM6.4 million.
The value of the seized jewellery, without taking into account workmanship costs, was estimated to be about RM442 million.
Amar added that the market value of the items would be about 50 to 100 percent more, or an estimated RM660 million to RM880 million.
“Experts says the market price is valued 50 to 100 percent more. This includes workmanship cost, initial labour charges, design makers and others,” he said.
Police also seized 567 handbags made up of 37 luxury brands, including Hermes, Prada, Chanel and Versace.
Reportedly, one of the bags, 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.
There were also 423 watches from more than 100 brands, including Rolex, Chopard and Richard Mille, worth RM78 million and 234 sunglasses worth RM374,000 seized.
The most expensive watch was an RM3.5 million Rolex Daytona.
At the press conference, police officers displayed photos of some of the valuables seized.
The seizures were from raids at premises linked to Najib, including his private residence at Jalan Langgak Duta and the condo units where his son and daughter lived at Pavilion Residences, as well as an empty unit at the same condominium.
The raids were part of the 1Malaysia Development Berhad (1MDB) investigation.
Amar said the seized items which are now being held at Bank Negara were sealed and brought to a safe house for valuation.
He also said police will be taking statements from certain people to determine if the items were given as gifts to Najib’s wife, Rosmah Mansor, before questioning Rosmah again.
He added that he did not know if Najib would be arrested any time soon.
Earlier reports:
May 24, Pavilion Condo Raid Haul Now at Bank Negara
May 22, Police Have Their Hands Full Counting Cash
May 18, Astounding Haul!