Police Complete Counting Najib’s 1MDB-Related Seized Luxury Items, Worth RM1.1 Billion

Police had raided six residences related to former Prime Minister Datuk Sri Najib Razak a week after the general election on May 9. Since then, the police has been working around the clock to count the net worth of all the 72 suitcases and 284 boxes of luxury handbags, watches, jewellery, cash and many more. On Hari Raya eve (Jun 24), Bukit Aman commercial crime investigation department (CCID) director Datuk Seri Amar Singh Ishar Singh even told his officers they weren’t allowed to go on holiday if the counting process wasn’t finished.

Source: Malaysiakini

After almost six weeks since the raid, Amar had revealed the total value of the seized goods and it amounts between RM900 million and RM1.1 billion, The Star reported.

In the press conference today (June 27), the police said that the value of over 12,000 luxury goods without workmanship costs was estimated to be around RM440 million. Amar said these confiscated items could fetch a 50 to 100% higher price in the market, thus it could mean an estimated RM660 million to RM880 million for all the items. He said it is the biggest seizure in Malaysian history.

Source: Malaysiakini

“Eight special teams comprising experts and officers were involved in the counting process, totaling 150 personnel,” he said.

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