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Malaysia says items seized from residences linked to former prime minister worth about $273 million

Key Points
  • Malaysian police said the total value of items seized during raids at premises linked to former Prime Minister Najib Razak was as much as 1.1 billion ringgit ($273 million). 
  • The raids were connected to investigations into the scandal at state fund 1MDB.
  • The country's police head for commercial crime said about 12,000 pieces of jewelry were seized from six premises that were raided. 

Malaysian police said on Wednesday the total value of items seized during raids at premises linked to former Prime Minister Najib Razak was 900 million ringgit to 1.1 billion ringgit.

The raids were connected to investigations into the scandal at state fund 1Malaysia Development Berhad (1MDB).

Malaysian police head of commercial crime, Amar Singh, said 12,000 pieces of jewelry were seized from the six premises that were raided.

The total value of gold jewelry and gemstones seized was 440 million ringgit, excluding workmanship. Singh said the retail value of the items could be 660 million to 880 million ringgit.

Malaysian police said 567 handbags were seized. The value of the Hermes bags alone was 51.3 million ringgit.

WATCH: What happened to Malaysia's 1MDB money? 

VIDEO5:4405:44
What happened to Malaysia's 1MDB money?