Najib and Rosmah at BNM to inspect seized handbags, watches, shoes and cash

KUALA LUMPUR (Feb 22): Former premier Datuk Seri Najib Razak and his wife Datin Seri Rosmah Mansor is inspecting some 263 handbags, 14 watches, 27 pair of shoes and millions of ringgit worth of cash in various foreign denomination.

The couple are inspecting the items at Bank Negara Malaysia (BNM) at 9am this morning.

Sources told theedgemarkets.com that of the 263 handbags, more than 100 are said to be of the exclusive Hermes brand. Hermes bags can cost from US$12,000 to US$200,000.

The cash is said to be worth close to RM3 million, with the bulk of it denominated in pound sterling.

The inspection follows the ruling by High Court Justice Mohamed Zaini Mazlan on Feb 3 allowing Najib and Rosmah's application to physically inspect these valuable items that have been kept in a BNM vault before filing an affidavit to possibly challenge the forfeiture.

Initially, Justice Zaini had given a two-week period for the police and the Attorney General's Chambers to make arrangements for the both of them to inspect the items only once, under the watchful eyes of BNM officers, the prosecution representatives and the police.

Justice Zaini ruled that the prosecution's fears to not allow the couple to carry out the inspection can be allayed if the premise used is controlled by them.

"I am not able to fathom how the removal of these items from a vault controlled by BNM would result in the item's deterioration. This can be done in a controlled environment with the applicant alone with a solicitor to examine them with the prosecution's presence," the judge said.

However, the court had on Monday (Feb 17) extended the order until Feb 29, as BNM only allowed the inspection to be done on weekends, hence the inspection today.

It was previously reported that the police had filed a forfeiture against Najib, Rosmah, their children Nooryana Najwa, Norashman Razak, Najib's stepson Riza Aziz and several others to recover some RM31 million worth of valuables said to be linked to 1Malaysia Development Bhd.

However, the inspection today is not the bulk of it, as Najib and Rosmah also filed a discovery application to inspect over 12,000 pieces of jewellery, other handbags and valuable items seized from properties held by company OBYU Holdings Sdn Bhd which is owned by Najib's confidante Tan Sri Bustari Yusuf.

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