Inspector-general of police (IGP) Mohamad Fuzi Harun has stood by the police's valuation of items seized from properties linked to former prime minister Najib Abdul Razak.
At a press conference today, Fuzi said the RM900 million to RM1.1 billion valuation on the cash and valuables - including some 10,000 pieces of jewellery - was done with the help of experts.
Among others, these experts included people familiar with the valuation of luxury bags, and officers from Bank Negara, he said.
"While police are not experts in this matter, we hired external experts to do the valuation on all the items seized...
"We cannot calculate the value of the items conventionally. So the experts did it and the value was based on their reports," he told reporters at Bukit Aman today.
Yesterday, the Commercial Crime Investigation Department (CCID) revealed the raw value from the haul was estimated at RM686.37 million. This figure only took into account the current value of the precious metals and gems.
The police also estimated that the retail value of the items was between RM900 million and RM1.1 billion.
In an exclusive interview with Malaysiakini yesterday, Najib said the valuation of the items, in particular the jewellery, could be disputed because it was a subjective matter.
Moreover, Najib claimed it was likely that a lot of items confiscated were gifts. He also said he has yet to receive a full list of the items seized by the police on May 17.
He said he was unaware of the extent of his wife Rosmah Mansor's collection of luxury items. - Mkini
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