Khazanah and PNB channelled nearly RM40m into FashionValet in 2018, court hears in Vivy Yusof trial

Fashion Valet, a local fashion company, received nearly RM40 million in investment funds from Khazanah Nasional Berhad and Permodalan Nasional Berhad in 2018, according to testimony in the trial of Vivy Sofinas Yusof and her husband, Fadzarudin Shah Anuar. The funds were deposited into a Public Bank account through four separate transactions between March and December 2018, totaling RM7,848,000 from Khazanah and RM11,953,500 from PNB.

Additionally, a sum of RM11 million was withdrawn from Fashion Valet's bank account on August 21, 2018, raising questions about the flow of funds and the role of the authorised person for online banking.

Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.