FashionValet founder Vivy Yusof and husband Fadzarudin plead not guilty to RM8m CBT charges

KUALA LUMPUR, Dec 5 — FashionValet Sdn Bhd (FashionValet) 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 (Khazanah) and Permodalan Nasional Berhad (PNB) 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.

The married couple, as directors of FashionValet Sdn Bhd, is accused of having the common intention to commit criminal breach of trust over Khazanah and PNB investment funds entrusted to them by making a payment of RM8 million from the bank account of FashionValet Sdn Bhd to 30 Maple Sdn Bhd without the approval of FashionValet’s board of directors.

The offence was allegedly committed at Public Bank Berhad, Bukit Damansara Branch, 36-40 Medan Setia 2, Plaza Damansara Bukit Damansara here, on Aug 21, 2018.

The charge, framed under Section 409 of the Penal Code read together with Section 34 of the same Code, provides for a minimum sentence of two years and a maximum of 20 years in jail, whipping, and a fine, upon conviction.

More to come