1MDB raids, seizure is biggest in Malaysian history: Police (Updated)

28 Jun 2018 / 00:40 H.

KUALA LUMPUR: Up to RM1.1 billion in cash, jewellery, designer handbags and luxury items were seized by police from various properties in connection with the probe into 1Malaysia Development Berhad (1MDB), in what is deemed as the biggest raid and seizure in Malaysian history.
The properties raided include the office of former prime minister Datuk Seri Najib Abdul Razak, his private residence in Jalan Langgak Duta and Pavilion Residences condominium units where his son and daughter lived, as well as an unoccupied unit at the same location.
It took 150 police officers, working through the Hari Raya holiday period, almost a month to catalogue and valuate part of the seized items, with some other valuables still to be assessed.
Bukit Aman Commercial Crime Investigation Department director Datuk Seri Amar Singh said today RM442 million worth of jewellery and RM116.7 million in cash in various currencies were counted.
The most expensive item seized was a gold necklace with white diamonds worth RM6.4 million.
“Although the jewellery was valued at RM442 million, this figure only represents the materials used and does not factor in workmanship, design and market value, that (increase it by) 50% to 100%, or RM660 million to RM880 million,” Amar said.
Police also confirmed there were 272 Hermes bags worth RM51.3 million in total, and another 567 bags of 37 brands that have not been valued yet.
One of them was a Bijan bag from the House of Bijan in Beverly Hills’ Rodeo Drive, said to be the most expensive store in the world. Entry to the store is by appointment only for the mega-rich.
“These bags are exclusive and custom-made. You can’t find them in the market or boutiques because there will only be one piece produced by the designer, or when requested by a customer,” said Amar.
He said they have not valuated the rest of the bags yet as they are waiting for experts to verify their authenticity.
“There were copies of original bags. I would not call them fakes, but they were good copies that were expensive.”
Also seized were 423 watches of luxury brands such as Rolex, Cecil Purnell, Patek Philippe and Richard Mille, estimated to be worth RM78 million.
The most valuable timepiece was a rare Rolex “Paul Newman” Daytona, estimated to be worth RM3.5 million.
“This is definitely a shock to the police. We have never seen such a raid in Malaysia before,” he said.
On how police knew which locations to raid, Amar said they received tip-offs and the unoccupied unit was used as a store as it had no furniture in it.
Amar said documents were also seized from the raids in Putrajaya, but declined to elaborate.
He added that Najib, his wife Datin Seri Rosmah Mansor and their alleged “gift givers” will be called up by police in the ongoing 1MDB probe.
Police have so far recorded 30 statements in relation to the investigation.
Amar also confirmed that no one from Umno, including Najib, has come forward to claim the cash seized from properties linked to Najib.
Last month, the Umno Communications team said the party was seeking to recover party funds it said were seized by police while it was in the process of being transferred to the party’s acting leadership following Najib’s resignation as president.
It said the party constitution allowed for its president to source and manage party funds, including for general elections.
Amar said the seized items, that are being stored at Bank Negara, were sealed and brought to a safehouse for valuation.
He said investigations into all the items and cash seized were being done under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.


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