Malaysia to sell off millions worth of bling seized from ex-PM Najib Razak
Police said 12,000 pieces of jewellery, 567 handbags, 423 watches and 234 sunglasses were confiscated last month from properties linked to the former leader
Malaysia’s government will sell much of the huge stash of jewellery and luxury goods, including diamond necklaces, tiaras and designer handbags that were seized in a money-laundering probe of former leader Najib Razak, Finance Minister Lim Guan Eng said on Friday.
Police said 12,000 pieces of jewellery, 567 handbags, 423 watches and 234 sunglasses were confiscated last month from properties linked to Najib after the shocking electoral defeat of his long-ruling coalition. The police estimate the haul, the biggest in the country’s history, is worth more than US$273 million.
Lim said the government will “try to monetise whatever we can”. He said the amount is a drop in the ocean compared to some 50 billion ringgit (US$12.4 billion) of losses related to the defunct 1MDB investment fund set up by Najib, including from alleged outright theft and loans used to conceal the graft.
“We will try to monetise whatever we can, but bear in mind it is nothing compared to the amount that has been robbed from the state,” he said, adding he was stunned by the police seizure.
