Khazanah transferred RM19.5mil to Fashion Valet in 2018, court hears
CIMB branch manager Lee Hui Nee testifies that the sovereign wealth fund made two transfers of RM7.8 million and RM11.74 million to the e-commerce platform in March 2018.
In December 2024, Vivy Yusof and her husband Fadzarudin Shah Anuar, founders of Fashion Valet Sdn Bhd, faced charges of criminal breach of trust involving RM8 million in investment funds from Khazanah Nasional Bhd and PNB. The sessions court heard that Khazanah had transferred a total of RM19.59 million to the local fashion company in March 2018, as reported by KL Sentral CIMB branch manager Lee Hui Nee.
The two transactions were made via interbank transfers on March 23 and March 26, 2018, totalling RM7,848,000 and RM11,742,000 respectively. The court heard that Lee was unaware of how Fashion Valet used the funds or the terms of the agreement between Khazanah and Fashion Valet. Defence counsel Shaarvin Raaj Selva Kumar pointed out additional transactions involving the founders on the same date, based on Khazanah's bank statement. The trial continues on October 16.
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- Khazanah transferred RM19.5mil to Fashion Valet in 2018, court hears freemalaysiatoday.com
