Najib Loot: Seized valuables, cash valued at $250 mln

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A quarter of a billion US dollars. That is, according to Malaysian police, the value of jewelry and other luxury items seized from properties linked to former Prime Minister Najib Razak. Authorities confiscated the loot more than a month ago as part of the investigation into the one-MDB corruption scandal. CGTN's Rian Maelzer has more from Kuala Lumpur.

RIAN MAELZER KUALA LUMPUR "Police seized the valuables from several properties linked to former Prime Minister Najib Razak under the anti-money laundering act, with the biggest haul from an otherwise empty condominium unit in the building behind me."

AMAR SINGH, CHIEF COMMERCIAL CRIME INVESTIGATION DEPARTMENT "Actually, the premises which we conducted the search was not our target at all. We somehow got information, we developed that information and with the warrant we conducted the search of the premises."

The properties were raided as part of the investigation into billions of dollars believed to have been siphoned off from the state investment firm 1MDB. Police found 284 designer handbags, valued at more than 12 million dollars, bags filled with 30 million dollars in cash, and suitcases stuffed to the brim with jewellery and designer watches.

AMAR SINGH, CHIEF COMMERCIAL CRIME INVESTIGATION DEPARTMENT "This is another bag full with items. Basically, they are falling out from the bag. In total, 12-thousand items all in. Necklaces, 1400 necklaces, rings, 2200 rings, bangles, 2100 bangles, earrings 2800 pairs of earrings, broaches, 1600 broaches."

Members of the media audibly gasped at the scale of the seizure, which Singh said was the biggest in Malaysian history. He said he expects to bring Najib and his wife Rosmah Mansor in for questioning soon, while Prime Minister Mahathir Mohamad said prosecutors are building a strong case against his predecessor.

RIAN MAELZER KUALA LUMPUR "Najib contends that the seized cash was funds from his party's election campaign, and that the handbags and jewellery were mostly gifts. It's a story that most Malaysians, including the police, appear unwilling to believe. Rian Maelzer, CGTN, Kuala Lumpur."