The Malaysian anti-corruption agency arrested ex-PM Najib Razak’s wife Wednesday for laundering money looted from the 1MDB sovereign wealth fund.
Rosmah Mansor, 66, will “face several charges” for her role in the 1MDB scandal, the Malaysian Anti-Corruption Commission said.
During raids on houses and condos owned by Najib and his wife in July, Malaysian police seized $273 million worth of jewelry, handbags, and other valuables.
The head of Malaysia’s commercial crime unit said the raids resulted in the “biggest seizure in Malaysian history.”
During the raids, police seized cash in 26 currencies with a total value of $28.6 million.
They confiscated 457 handbags, including Hermes bags that alone are worth $12 million.
Also seized were 423 watches valued at $19 million, police said, along with 234 sunglasses worth $93,000.
Twelve thousand pieces of jewelry were found in 25 bags. Included were 1,400 necklaces, 2,200 rings, 2,100 bangles, 2,800 pairs of earrings, 1,600 brooches and 14 tiaras, police said. The jewelry could be worth around $180 million.
Harry Cassin is the managing editor of the FCPA Blog.