KUALA LUMPUR: FashionValet Sdn Bhd founders Datin Vivy Yusof and Datuk Fadzarudin Shah Anuar were charged in the Sessions Court here today with criminal breach of trust involving RM8 million in investment funds belonging to Khazanah Nasional Berhad and Permodalan Nasional Berhad six years ago. Vivy Yusof, whose full name is Vivy Sofinas Yusof, 37, and Fadzarudin, 36, pleaded not guilty when the charge was read out to them before Judge Rosli Ahmad.
According to BERNAMA News Agency, the couple, as directors of FashionValet Sdn Bhd, are accused of having the common intention to commit criminal breach of trust over Khazanah and PNB’s investment funds entrusted to them by transferring RM8 million from FashionValet’s bank account to 30 Maple Sdn Bhd without the board’s approval. The alleged offence took place at Public Bank Berhad, Bukit Damansara Branch, on August 21, 2018.
The charge is framed under Section 409 of the Penal Code, read together with Section 34, which prescribes a minimum sentence of two years an
d a maximum of 20 years in jail, whipping, and a fine upon conviction. Judge Rosli set bail at RM100,000 each, requiring them to report to the Malaysian Anti-Corruption Commission (MACC) office monthly and surrender their passports.
Deputy Public Prosecutor Datuk Wan Shaharuddin Wan Ladin noted that while the offence is non-bailable, the accused have cooperated with the MACC. Therefore, the prosecution proposed a bail between RM100,000 and RM200,000 with additional conditions due to the severity of the offence and potential flight risk. The court was informed that an alternative charge under Section 403 of the Penal Code would be filed in the next proceedings.
Lawyer A. Ashok, representing the couple, appealed for a reasonable bail amount, highlighting their cooperation with investigations and financial constraints due to frozen assets. Ashok emphasized their commitment to attend court proceedings, citing family and business ties in Kuala Lumpur. He requested that they report to the Kuala Lumpur MACC office
instead.
The prosecution maintained that the proposed bail was fair and not punitive, ensuring the accused’s presence in court while addressing the case’s seriousness. The judge set January 22 next year for mention.