The Biggest Seizure In Malaysian History
In a shocking revelation, Bukit Aman Commercial Crime Investigation Department (CCID) director Comm Datuk Seri Amar Singh announced in a press conference the value of the items and cash seized from the six residences and offices linked to the former Prime Minister Datuk Seri Najib Razak.
After evaluation and assessment by various experts, the collective value of the items seized was estimated at between RM900 million and RM1.1 billion, The Star reported earlier today.
In defense, Najib told Malaysiakini that the valuation of items, especially jewellery, are “subjective and unrealistic”. He also added that many of them were gifts from foreign leaders and friends. He said the value of jewellery depends on the source of the stones and when they were purchased.
Some of the luxury brands found were Chopard, Cartier, Versace, Bijan, Hermes, Richard Mille and Rolex.
This American brand uses only the finest materials from crocodile skin, kangaroo hide to flawless gemstones for its ultra high-end bags. A lower-level Bijan crocodile clutch purse costs about US$10,000 (RM40,318). But, its diamond-encrusted Bijan bags are likely to set buyers back by six figures or more.
Source: The Star
According to Comm Amar, the items seized are being investigated under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
Lawyer Latheefa Kofa said that those claiming ownership of items must be able to show how they obtained them and where the money came from.
The police have recorded more than 30 statements pertaining to the investigation, but Comm Amar said he was not aware of any possible arrest at this juncture.