Richard Mille and Harry Winston watches, Hermes and Chanel handbags among RM93.2m items from Jasmine Loo seizure

KUALA LUMPUR, Sept 4 — An ultra-luxury Richard Mille watch and an Hermès handbag were among the RM93.2 million worth of assets that were allegedly purchased with money from 1Malaysia Development Berhad (1MDB), according to the police.

After investigations on the sovereign fund’s former lawyer Jasmine Loo Ai Swan, the police today released photos of the luxury items it seized.

The Richard Mille appears to be a reference number RM023 model, which retailed at around US$120,000 (RM558,000) and can reach up to US$130,000 in the secondary sales market.

Another watch on the list was from the luxury brand Harry Winston, and appears to be a model Ocean with the reference number OCSACH38ZZ008. It sold for over US$16,000 and could reach up to US$18,000 pre-loved.

Some of the luxury handbags confiscated by police from Jasmine Loo. — Picture courtesy of Royal Malaysia Police

The most expensive bag among the luxury items was the Hermès Birkin 30 Black Shiny Porosus Crocodile Gold Hardware, which is worth around RM238,000 used.

Next was the Givenchy Small Pink Crocodile Antigona bag with an original retail value of over RM144,000 and could be worth between RM12,000 and around RM22,000 when used.

There was also the iconic Christian Dior bag: the Lady Dior, which is worth RM30,500 brand new.

The other bags included: Fendi Peekaboo, US$4,200; Chanel 2.55 Chain Tote in red, US$4,064; Chanel 2.55 in black, US$2,175; Chanel White Drill Perforated Leather Large Classic Flap Accordion bag, US$1,484; Louis Vuitton Abbesses Messenger bag, US$1,387; Louis Vuitton Croisette bag, US$1,044; Prada Pattina Vitello Shine Leather bag, US$800; Christian Dior White Panarea Vintage Lady Dior Clutch, US$690; and Mulberry Suffolk bag, RM3,088.

All the prices above are for the bags in pre-loved condition.

More luxury handbags confiscated by police. — Picture courtesy of Royal Malaysia Police

Deputy Inspector-General of Police Datuk Seri Ayob Khan Mydin Pitchay said the police have identified assets in Singapore, the United States and the United Kingdom besides those in Malaysia, and are in the process of recovering them.

Loo was arrested by Malaysian police in early July after years outside the country to escape the law. She is said to be a close associate of fugitive Low Taek Jho or Jho Low, who is believed to have masterminded the 1MDB scandal which also involved former prime minister Datuk Seri Najib Razak.

Malaysian authorities have sought information on her as well as other former 1MDB officials and those associated with the scandal. Her lawyer said that her surrender was voluntary and that she would cooperate with 1MDB investigations and help Malaysia recover assets from 1MDB.

Other handbags included two Chanel bags, one Prada bag, a Givenchy bag and two Louis Vuitton bags. — Picture courtesy of Royal Malaysia Police

Ayob today said that Loo was the owner of a company called River Dee International SA registered in the British Virgin Islands that was used to buy assets for Low as well as facilitate in opening of a bank account at the Falcon Private Bank in November 2012.

Loo received a total of US$16,074,975 in five transactions. She bought properties in New York worth US$4,610,000, London US$2,792,282.93, made investments in America, and has had US$5 million frozen by the Department of Justice in America.

She also admitted to receiving luxury watches like Richard Mille’s, Harry Winston as well as Birkin handbags from Low.

Upon raiding Loo’s condominium in Bukit Damansara they confiscated a total of RM625,000.

As for assets in Singapore, the police found a company called HeartLand Global had SG$4 million in a Credit Suisse account while another bank account at BSI Bank owned by Springbrook Global they’ve yet to identify the amount in it.

In America, Loo had a condominium worth RM21,408,840 and nine paintings worth RM8,112,533. One of those paintings was in Switzerland while the rest were in New York. She also had RM23,220,000 in a bank account.

In London, the police found a condominium of Loo’s worth RM12,967,361.