Ex-PM in $400m raid

The total value of cash, jewellery and hundreds of watches and handbags seized from properties linked to former Malaysian Prime Minister Najib Razak in a money-laundering investigation amounted to at least US$273 million ($400m), police said yesterday, calling the haul “the biggest in Malaysian history”.

The items comprised 12,000 pieces of jewellery, 567 handbags, 423 watches and 234 sunglasses, said commercial crime investigations chief Amar Singh. The jewellery includes 2200 rings, 1400 necklaces, 2100 bracelets, 2800 pair of earrings, 1600 brooches and 14 tiaras, he said.

Allegations of corruption at the defunct 1MDB state investment fund that Najib set up led to his shocking defeat and the end of the 60-year unbroken rule of his coalition in May 9 elections. Najib and his wife have been barred from leaving the country and have been grilled by anti-graft officials. They deny any wrongdoing.

Police have raided 12 locations, including Najib’s family home and apartments at a high-end Kuala Lumpur condominium, as part of the probe into a criminal breach of trust involving the 1MDB fund.

Singh said among the most expensive valuables were a US$1.6m diamond necklace and a US$869,000 Rolex Daytona watch. Out of the 567 handbags, he said 272 were the exclusive Hermes Birkins bags with a market value of at least US$12.7m.

Police will soon call Najib, his wife Rosmah Mansor as well as people who allegedly gave them some of the items as gifts for questioning, he added.