Value of cash and goods seized from Najib-linked residences amounted to about RM1bil (updated)

KUALA LUMPUR: The cash and items seized from the six residences linked to Datuk Seri Najib Tun Razak amounted to between RM900mil and RM1.1bil, say the police.

Federal Commercial Crime Investigation Department (CCID) director Datuk Seri Amar Singh told a press conference that it took police from May 21 to June 25 to ascertain the value of the cash and items seized.

He said that more than 12,000 pieces of jewellery – comprising 2,200 rings, 1,400 necklaces, 2,100 bracelets, 2,800 pairs of earrings,1,600 brooches and 14 tiaras were seized.

The most expensive item was a necklace that had a value of at least RM6mil, he told a press conference here on Wednesday (June 27).

The value of these items, without taking into account workmanship costs, was estimated to be about RM440mil, said Comm Amar.

He added that the market value of these items would be about 50 to 100 percent more, or an estimated RM660mil to RM880mil.

He also said there were 423 watches worth RM78mil and 234 sunglasses worth RM374,000 seized.

Police also seized 567 handbags made up of 37 luxury brands, with an estimated value of RM51.3mil, said Comm Amar.

He added that this was the biggest seizure in Malaysian history.

The raids on the residences linked to the former premier were part of the 1Malaysia Development Berhad (1MDB) investigation.