In what is reportedly the biggest seizure in Malaysian history, the country’s police raided 12 locations associated with former Malaysian Prime Minister Najib Razak, finding cash, jewelry, watches and handbags worth “at least $273 million”, according to police.
The raids were done as part of a money-laundering investigation into the 1MDB state investment fund that Najib had set up in 2009. Reports of corruption associated with the fund led to his removal from power in the May 9 elections. According to US investigators, Najib’s associates laundered $4.5 billion from the fund from 2009 to 2014. Najib and his wife have been barred from leaving the country.
According to numerous news reports, including Time magazine, the police found 12,000 pieces of jewelry, comprising 2,200 rings, 1,400 necklaces, 2,100 bracelets, 2,800 pair of earrings, 1,600 brooches and 14 tiaras. In addition, they found 567 handbags, 423 watches and 234 sunglasses. In a news conference, the police reported that the most expensive items were a $1.6 million diamond necklace, a $869,000 Rolex Daytona watch, and 272 Hermes Birkins bags with a total value of $12.7 million.
