$ 30m, 400 handbags seized in raids

Malaysia moves stash from Razak with help of five trucks

Kuala Lumpur, May 25: Malaysian police said on Friday they seized over 400 handbags and cash amounting to almost $ 30 million in raids on luxury apartments as they probed corruption allegations swirling around ousted leader Najib Razak.

The money and a vast trove of handbags, as well as watches and jewellery, were found in two condominiums in Kuala Lumpur. A total of 12 locations, including the exleader’s home, were searched by police last week as part of an investigation into the scandal surrounding a sovereign wealth fund.

After more than six decades in power, Najib’s coalition was defeated by a reformist alliance headed by his former mentor Mahathir Mohamad in the May 9 poll.

Public disgust at allegations of corruption linked to Najib was a major factor in the upset, with the ex- leader, his family and cronies accused of looting state fund 1MDB.

There had been much speculation about what the seized goods consisted of and how much they were worth after five trucks were reportedly brought in to help move the stash. Giving an update, the police’s head of commercial crime Amar Singh said: “From the money found, there were 26 currencies, the total amount as of yesterday is 114 million ( ringgit) ($ 28.6 million).”

The money was found in 35 bags at one apartment while another 37 bags at the same location contained watches and jewellery, he said.

PUBLIC DISGUST at allegations of graft linked to Najib was a major factor in his upset defeat in polls, with the ex- leader accused of looting state fund 1Malaysia Development Berhad.