UH OH

Malaysian Police Seize Goods Worth $273 Million in 1MDB Raids

As part of probe into mammoth state fund under scrutiny by Justice Department.

Malaysian police have seized jewels and cash valued at an estimated $273 million in a series of raids tied to a massive money-laundering scandal that made it all the way to Hollywood. Amar Singh, the head of the Malaysian police’s commercial-crime department, said Wednesday that the more than 12,000 items taken in the raids amounted to the “biggest seizure in Malaysian history.” Luxury goods including Hermès bags, diamond necklaces, and Rolex watches were found at properties tied to former Prime Minister Najib Razak, who was voted out of office this month amid questions over his role in a money-laundering scandal at the 1Malaysia Development Berhad, or 1MDB. The multibillion-dollar state development fund is under scrutiny by the U.S. Department of Justice for allegedly funneling illicit cash into U.S. shell companies. Some of those funds are thought to have gone toward financing the 2013 film The Wolf of Wall Street. Actor Leonardo DiCaprio was also forced to return gifts and donations given to him by businessmen tied to the fund.