{
  "id": 1695661,
  "title": "Khazanah transferred RM19.5mil to Fashion Valet in 2018, court hears",
  "url": "https://urgent.news/2026/08/18/khazanah-transferred-rm19-5mil-to-fashion-valet-in-2018-court-hears-1695661",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-08-18T10:41:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/nation/2026/08/18/khazanah-transferred-rm19-5mil-to-fashion-valet-in-2018-court-hears"
  },
  "original_language": "en",
  "account": "In March 2018, Khazanah Nasional Bhd sent a combined RM19.59 million to Fashion Valet Sdn Bhd as an investment. The transactions occurred in two stages on March 23 and March 26, 2018, as detailed by KL Sentral CIMB branch manager Lee Hui Nee. Lee testified about the transfers during the criminal breach of trust (CBT) trial involving Fashion Valet founders Vivy Yusof and Fadzarudin Shah Anuar. Despite Lee's lack of knowledge about Fashion Valet's usage of the funds or the terms of the agreement with Khazanah, she confirmed that the bank processed the transactions without authority to freeze the funds. The defence highlighted additional transactions involving Vivy and Fadzarudin on the same date, suggesting a pattern of fund transfers from Fashion Valet directors to the company itself. Vivy and Fadzarudin face charges related to allegedly authorizing a payment of RM8 million without board approval, potentially violating Penal Code Section 409.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Khazanah transferred RM19.5mil to Fashion Valet in 2018, court hears",
        "url": "https://urgent.news/2026/08/18/khazanah-transferred-rm19-5mil-to-fashion-valet-in-2018-court-hears",
        "published": "2026-08-18T10:41:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}