FashionValet Founders Vivy Yusof & Husband Plead Not Guilty To RM8 Million CBT Charge
The court granted bail at RM100,000 and ordered the couple to surrender their passports.
By May Vin Ang — 05 Dec 2024, 03:33 PM
FashionValet founders Datin Vivy Yusof and her husband, Datuk Fadzarudin Shah Anuar, were charged today, 5 December, with criminal breach of trust (CBT) involving RM8 million investment funds six years ago
According to the New Straits Times, Vivy, 37, and Fadzarudin, 36, pleaded not guilty to the charge when it was read before Judge Rosli Ahmad at the Kuala Lumpur Sessions Court.
FashionValet founders Datin Vivy Yusof and Datuk Fadzarudin Shah Anuar arrive at the Kuala Lumpur Sessions Court today, 5 December.
Image via Asyraf Hamzah/New Straits TimesAs directors of FashionValet Sdn Bhd, the couple is accused of conspiring to commit CBT involving funds entrusted to them by government-linked companies, Khazanah Nasional Berhad and Permodalan Nasional Berhad (PNB)
They allegedly transferred RM8 million from FashionValet's bank account to 30 Maple Sdn Bhd without the approval of FashionValet's board of directors.
30 Maple, which operates the luxury headscarf brand dUCK, is also owned by the couple.
The alleged offence occurred at the Public Bank Berhad branch in Bukit Damansara on 21 August 2018.
The charge, framed under Section 409 of the Penal Code and read alongside Section 34, carries a sentence of two to 20 years in prison, whipping, and a fine, if convicted
The court granted bail at RM100,000 and required the couple to report to the Kuala Lumpur Malaysian Anti-Corruption Commission (MACC) office monthly.
The judge also ordered the couple to surrender their passports to the court and warned them not to harass or influence any witnesses related to the case.
The case is set for mention on 22 January.
