Vivy Yusof and husband Fadzarudin claim trial to alternative charges of misappropriating RM8m Khazanah, PNB funds
FashionValet Sdn Bhd founder Datin Vivy Yusof and her husband, Datuk Fadzarudin Shah Anuar, arrive at the Kuala Lumpur Sessions Court January 22, 2025. — Bernama pic
Wednesday, 22 Jan 2025 10:51 AM MYT
KUALA LUMPUR, Jan 22 — The founder of FashionValet Sdn Bhd, Datin Vivy Yusof, and her husband, Datuk Fadzarudin Shah Anuar, have been charged with the misappropriation of RM8 million from Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB), belonging to the company.
Vivy Yusof, 37, and Fadzarudin, 36, pleaded not guilty after the alternative charges were read out before Sessions Court Judge Rosli Ahmad.
"We plead not guilty and request for a trial," the couple responded.
They are accused of jointly and dishonestly misappropriating RM8 million of FashionValet’s investment funds from Khazanah and PNB, at Public Bank Berhad, Bukit Damansara Branch, 36-40 Medan Setia 2, Plaza Damansara, Bukit Damansara, on Aug 21, 2018.
The couple is charged under Section 403 of the Penal Code, read together with Section 34 of the same Code, which provides for an imprisonment of between six months and five years, along with caning and a fine upon conviction.
Addressing the issue of bail, deputy public prosecutor Haresh Prakash Somiah requested the court to apply the same sum as in previous proceedings, which was RM100,000 for each accused, with one surety.
“I also request a mention date to allow the prosecution to submit the remaining case documents to the defence,” he added.
The couple’s lawyer, Ashok Athimulan, raised no objections, after which the court confirmed the same bail conditions and scheduled the next mention for March 10.
Earlier, Haresh had informed the court that during the previous proceedings, the prosecution had notified the court of its intention to file an alternative charge under Section 403 of the Penal Code for misappropriation of funds.
“The charges have been filed, and therefore, we request to proceed. And for the charges to be read to both the accused,” he said.
On Dec 5 last year, Vivy Sofinas and Fadzarudin pleaded not guilty to charges of criminal breach of trust involving RM8 million of Khazanah and PNB investment funds.
They were jointly accused, in their capacity as FashionValet directors, of misappropriating Khazanah and PNB’s entrusted funds by transferring RM8 million from the company account to 30 Maple Sdn Bhd without the board of directors’ approval.
The offence allegedly occurred at Public Bank Berhad, Bukit Damansara Branch, 36-40 Medan Setia 2, Plaza Damansara, Bukit Damansara, on Aug 21, 2018.
They were charged under Section 409 of the Penal Code, read together with Section 34 of the same Code, which provides for imprisonment of between two and 20 years, along with caning and a possible fine, upon conviction.
Bail was granted at RM100,000 with one surety and the court imposed additional conditions that they report to the Malaysian Anti-Corruption Commission Kuala Lumpur office once a month, surrender their passports, and refrain from interfering with or influencing witnesses pending the disposal of the case. — Bernama
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