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Malaysia to public sale off 1MDB-linked luxurious purses value ‘a whole bunch of 1000’s of ringgit’

SINGAPORE: Malaysian authorities have seized 40 luxurious purses linked to 1Malaysia Growth Berhad (1MDB) and are making preparations to place them up for public sale, a minister mentioned on Thursday (Jun 8).

The 40 purses of various manufacturers have an estimated worth of “a whole bunch of 1000’s of ringgit”, Minister within the Prime Minister’s Division for Legislation and Institutional Reform Azalina Othman Mentioned wrote in a reply to a query requested in parliament by Kepong MP Lim Lip Eng.

Lim had requested the federal government to element the property and asset sorts tied to the misappropriation of 1MDB funds that it had seized.

Along with the purses, police had seized money in addition to cash and curiosity from financial institution accounts totalling about RM66.96 million (US$14.5 million) whereas the Malaysian Anti-Corruption Fee (MACC) had seized RM16.06 million, Azalina mentioned in her reply.

The quantity seized by police was positioned right into a particular belief account underneath the Ministry of Finance, whereas the quantity confiscated by MACC was positioned in a authorities income account, she added.

The minister additionally mentioned that the method of placing the purses up for public sale was underway.

A submit on former prime minister Najib Razak’s Fb web page on Friday mentioned that neither the cash nor the purses seized had been linked to him or his household.

The purses had been “not confiscated from Pavilion or Najib’s home”, the submit learn.

“The RM83 million was additionally not from Najib or his household. The legislation minister additionally did not say it was from Najib or his household.”

The submit implied that the cash and purses may as a substitute be linked to fugitive Malaysian financier Jho Low or his associates.

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