Kuala lumpur: The Sessions Court was told today about two significant fund transfers totaling RM20.3 million from Permodalan Nasional Berhad (PNB) to Fashion Valet Sdn Bhd.
According to BERNAMA News Agency, Maybank Jalan Tun Razak branch assistant manager Shamsiah Musa, 55, testified that the transactions occurred on June 4, 2018, and December 20, 2018. Shamsiah stated, "I have reviewed all monthly account statements for 2018. I confirm that there were only two transfers from PNB's Malayan Banking Berhad account to Fashion Valet Sdn Bhd's Public Bank account," while reading her witness statement during the second day of the trial involving FashionValet founder Datin Vivy Yusof and her husband Datuk Fadzarudin Shah Anuar. The couple faces criminal breach of trust (CBT) charges related to RM8 million in investment funds from Khazanah Nasional Berhad and PNB.
The second prosecution witness confirmed the transfers were for RM11,953,509 on June 4, 2018, and RM8,365,001 on December 20, 2018, as per PNB's account statements. Shamsiah mentioned she could not verify any information or notes indicating the reason or purpose for the transfers due to limited access to transactions after six months, relying only on available bank statements for checks.
Questioned by the couple's lawyer Datuk M. Athimulan, Shamsiah confirmed that there were no freezes or restrictions imposed by PNB, affirming that the transactions were valid and transparent. When asked if PNB instructed any freeze or restrictions on the funds, Shamsiah responded, "No." She agreed with the lawyer that all transactions relating to the PNB funds were processed lawfully and in accordance with banking standards and procedures.
Shamsiah also acknowledged having no knowledge of or access to the terms of the agreement between PNB and Fashion Valet. Vivy Sofinas Yusof, 38, and her husband Fadzarudin, 37, as directors of FashionValet Sdn Bhd, are accused of intentionally committing CBT involving funds from Khazanah and PNB.
The RM8 million payment was reportedly made from FashionValet's bank account to 30 Maple without the company's board of directors' approval, at Public Bank Berhad, Bukit Damansara branch, on August 21, 2018. They are charged under Section 409 of the Penal Code, which provides for imprisonment of two to 20 years, as well as caning and a potential fine, upon conviction.
The couple also faces an alternative charge of intentionally and dishonestly misappropriating FashionValet's property, specifically the RM8 million from Khazanah and PNB, at the same location and date. This alternative charge was filed under Section 403 of the Penal Code, which carries imprisonment of six months to five years, with caning and a fine, upon conviction.
The trial before Judge Rosli Ahmad is set to resume on August 17.