Fashion Valet terima hampir RM40 juta pelaburan Khazanah, PNB, mahkamah diberitahu

Fashion Valet Sdn Bhd received nearly RM40 million in investments from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) in 2018, according to the Kuala Lumpur court. Public Bank executive Tay Lay Hong testified that Fashion Valet received RM7.848 million and RM11.742 million from Khazanah, respectively, on March 23 and 26.

The company also received RM11.9535 million from PNB on June 4 and an additional RM8.364 million on December 20, 2018. Tay confirmed that RM11 million was withdrawn from Fashion Valet's account to an undisclosed recipient on August 21, 2018, and stated that the transaction was made digitally via online banking. A further RM5 million was credited to Vivy's Public Bank account on September 3 with the reference "CIMB Rentas," and an additional RM5 million was credited to Fadzarudin's account the following day with the note "interim dividend."

Both transactions originated from 30 Maple Sdn Bhd, according to the bank records. On September 5, Vivy and Fadzarudin each withdrew RM5.5 million from their Public Bank accounts at the counter. Defense counsel M Athimulan suggested that it is common for large entities like Fashion Valet to use bearer cheques to meet financial commitments, including paying salaries, fuel expenses, and rent.

Tay agreed with this. Athimulan then questioned whether the RM11 million deemed a bearer cheque meant the money was moved to a specific personal account or transferred fraudulently to a shell company or nonexistent personal account. Tay affirmed that he agreed. Vivy and Fadzarudin, both 38 years old, were charged on January 5, 2024, with the criminal breach of trust offense involving Khazanah and PNB investments, alleging that they authorized a RM8 million payment from Fashion Valet's corporate bank account to 30 Maple Sdn Bhd without board approval on August 21, 2018, at Public Bank Bukit Damansara.

The charges were brought under Section 409 of the Offences Against the Person Act, carrying a maximum sentence of 20 years' imprisonment, fine, and a penalty if found guilty of dishonesty. Both defendants pleaded not guilty to the alternative charge of dishonestly misusing Khazanah and PNB investment funds totaling RM8 million in the same location and date. Their trial before Judge Rosli Ahmad continued on November 3.