Wednesday, June 27, 2018

Police Find Valuables In Former Malaysian Prime Minister's Homes (1MDB)

Make that "...Huge Haul of Valuables..."

From the Asia Times:

Police reveal huge haul of valuables found at Najib homes
Cash, jewelry and luxury items found in former PM's homes were worth up to $273 million, police in Malaysia alleged today
A staggering haul of cash, jewelry and luxury items valued at about a quarter of a billion dollars has been seized from homes of former Malaysian prime minister Najib Razak, police announced on Wednesday.

The searches were conducted as part of the investigation into the disappearance of billions of dollars from the 1MDB sovereign wealth fund.

The valuables included 12,000 pieces of jewelry, bags containing almost US$30 million in cash (in 26 different currencies), more than 400 watches and over 560 luxury handbags. Altogether they were worth up to $273 million, police said at a press conference.

It took three days for officials from the central bank to tally the total amount of cash – 22 officials armed with six counting machines – and the total worth of the vast trove of luxury goods....MORE