SINCE WHEN DID JHO LOW BECOME NAJIB’S ‘IN-LAW’? 212 OF 306 SUPER-LUXE HANDBAGS, WATCHES & JEWELLERY WORTH HUNDREDS OF MILLIONS SEIZED IN PAVILION RAIDS ARE LINKED TO JHO LOW, SAYS REPORT – YET NAJIB DARES TO SAY MOST OF IT BELONGED TO ‘IN-LAW WHO IS MARRIED TO ONE OF THE WORLD’S RICHEST MEN’

KUALA LUMPUR — Two hundred and twelve of the 306 handbags seized from a condominium linked to former prime minister Datuk Seri Najib Razak last year are Hermès and worth about RM47 million, according to a news report.

The Edge reported that other items seized include 401 watches valued at RM74 million, 11,990 pieces of jewellery estimated to be worth hundreds of millions of ringgit, and RM114 million cash in various currencies.

The report said investigators have since discovered that money from 1MDB went into four Singapore-based companies, owned by fugitive businessman Jho Low’s right-hand man Eric Tan Kim Loong.

Tan also managed the bank accounts opened in Singapore and Switzerland by his boss to allegedly launder money.

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The four companies spent US$247.59 million (RM1.03 billion) to purchase the jewellery from 30 jewellers worldwide.

Of the cash in various currencies, it predominantly consisted of S$9.8 million (RM30 million).

The seizures are part of the estimated RM680 million the government is seeking to recover. Authorities also confiscated luxury watches and cash from Najib’s family residence in Taman Duta, and a house in Putrajaya.

The condominium in Pavilion Residences is owned by Obyu Holdings Sdn Bhd, whose controlling shareholder is Sarawak tycoon Tan Sri Bustari Yusof, a close associate and golfing companion of Najib’s. – MALAY MAIL

Report: Cops find Jho Low connection to jewels at Najib-linked units

Police have reportedly established a connection between fugitive businessperson Jho Low and the jewellery seized from apartments linked to former prime minister Najib Abdul Razak.

According to The Edge, this was revealed after investigators traced back to 1MDB hundreds of millions of dollars that went into four company accounts in Singapore.

The companies allegedly spent US$247.59 million (RM1.03 billion) of the 1MDB-linked funds to purchase jewellery from 30 jewellers around the world and many of the items were found at the Pavilion Residences units that were raided last year in Kuala Lumpur.

The companies, Blackstone Real Estate Partners, Blackrock Commodities, Alsen Chance Holdings and Brightstone Jewellery, are owned by Low’s right-hand man, Eric Tan Kim Loong.

Previously, Singapore authorities had uncovered that Low had used Tan’s name as a proxy to open corporate bank accounts, including the Tanore account linked to Najib’s RM2.6 billion case.

The US Department of Justice, meanwhile, had traced funds in the Blackstone and Alsen Chance accounts to 1MDB monies raised in the Aabar-BVI phase.

Najib’s stepson Riza Aziz is alleged to have used US$1.2 million from the Alsen Chance account to purchase a rare movie poster.

Last June, police raided several apartment unite linked to Najib during which they seized almost 12,000 pieces of jewellery, 401 watches and cash in various currencies.

Hermes Birkin handbags (filepix)

Also seized were 567 handbags from 37 different brands which required special care by the police for storage.

The Edge reported that 212 of the handbags were made by Hermes and valued at RM47 million.

It was also reported that most of the luxury goods police seized were recovered from an apartment owned by Obyu Holdings Bhd.

Obyu Holdings is owned by Bustari Yusof, the brother of former BN works minister Fadillah Yusof. Bustari is a close confidante of Najib.

The government has filed a forfeiture notice for these items. – MKINI

MALAY MAIL / MKINI