PETALING JAYA: Forty branded handbags linked to 1MDB funds, with a total value running into hundreds of thousands of ringgit, are being auctioned off, the Dewan Rakyat was told today.
Law and institutional reform minister Azalina Othman Said said the handbags were among assets connected to misappropriated 1MDB funds that the police and the Malaysian Anti-Corruption Commission had managed to have declared as forfeited.
The authorities have also forfeited RM83 million in funds and interests from various bank accounts, she added.
“Around RM66.96 million in funds seized by the police have been transferred to a special trust account under the finance ministry, while around RM16.06 million seized by MACC has been transferred to the government’s revenue account.
“The 40 handbags that were forfeited are still in the process of being auctioned off,” she said in a written Dewan Rakyat reply to Lim Lip Eng (PH-Kepong).
Lim had asked what would happen to the various assets linked to misappropriated 1MDB funds that were seized and forfeited by the authorities.
In May 2018, police confiscated 284 boxes of designer bags from an apartment at the Pavilion Residences building in Kuala Lumpur. A month later, police seized about 40 luxury handbags after raiding two houses.
Items seized from raids on six properties linked to former prime minister Najib Razak were reportedly valued at between RM900 million to RM1.1 billion.