Accra:The Sessions Court heard that Fashion Valet Sdn Bhd received nearly RM40 million in investments from Khazanah Nasional Berhad and Permodalan Nasional Berhad (PNB) eight years ago.

According to BERNAMA News Agency, Tay Lay Hong, a banking services manager at Public Bank, testified that the funds were deposited through four transactions in 2018. Khazanah transferred RM7,848,000 and RM11,742,000 in March, while PNB made transfers of RM11,953,500 in June and RM8,364,996 in December.

During the trial of Fashion Valet founders Datin Vivy Sofinas Yusof and Datuk Fadzarudin Shah Anuar, accused of criminal breach of trust involving RM8 million, Tay confirmed that RM11 million was withdrawn from Fashion Valet's account via an online transaction in August 2018. She mentioned that this transaction required verification from an 'authorised person,' though she was unsure of the individual's identity.

Tay revealed that RM5 million was deposited into Fadzarudin Shah's account on September 4, 2018, and a similar amount appeared in Vivy Sofinas Yusof's account a day earlier, both from 30 Maple Sdn Bhd. She noted that RM5.5 million was withdrawn from each of their accounts at a bank counter on September 5, 2018.

Cross-examined by lawyer Datuk M. Athimulan, Tay confirmed that her testimony was based on documentation, including bank statements. She also clarified that the RM11 million withdrawal from Fashion Valet's account was a bulk transaction for various expenses, not necessarily transferred to a single personal account.

Vivy and Fadzarudin are charged with criminal breach of trust for authorising payments totaling RM8 million from Fashion Valet's account to 30 Maple without board approval, an offence under Section 409 of the Penal Code, which could lead to significant imprisonment and fines. They also face an alternative charge under Section 403 of the Penal Code. The trial, overseen by Judge Rosli Ahmad, is set to continue on November 3.