Former Malaysian PM Najib Razak spent US$800,000 on jewellery in one day, credit card receipts presented in corruption trial reveal
- US$4 billion was allegedly embezzled from state fund 1MDB and spent around the world, funding films, yachts, real estate and celebrity parties
- Raids uncovered luxury goods worth US$273 million, including 1,400 necklaces, 567 handbags, 423 watches, 2,200 rings, 1,600 brooches and 14 tiaras
The spending spree took place at De Grisogono, a Swiss luxury jeweller, in Italy on August 8, 2014 where items worth 3.3 million Malaysian ringgit (US$803,000) were purchased on Najib’s Visa and Mastercard platinum credit cards, the court was told.
A few months later, 466,000 ringgit was spent at a Chanel boutique in Hawaii and 127,000 ringgit at Bangkok’s luxury Shangri-La hotel using the same credit cards. All the payment were made from Najib’s Ambank account, prosecutors said.
‘King Kong’ poster and luxury watches among returned 1MDB loot
The trial, relating to the misuse of a subsidiary fund called SRC, is the first of several that Najib is due to face in the coming months for his alleged role in the scandal.
Najib defended the credit card spending as purchases for official purposes.
“This spending is for gifts to a senior member of the royalty of a government and their entourage that has good relations with our country,” Najib wrote in a Facebook post late on Monday. “It is a norm to give gifts to leaders of other governments.”
He did not clarify which royal had received the jewellery.
