FashionValet Founders Vivy Yusof & Husband Plead Not Guilty To CBT Charges
Vivy Yusof and her husband are alleged to have misappropriated RM8 million from FashionValet to 30 Maple without approval from company directors.
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FashionValet founders Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar arrived at the Kuala Lumpur Sessions Court today at 8:45am.
READ MORE: FashionValet Founder Vivy Yusof And Husband To Be Charged Tomorrow
Both were charged with criminal breach of trust (CBT) involving RM8 million related to the investment losses incurred by Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB)
READ MORE: What Did FashionValet Do Now? Many Angry Over PNB & Khazanah’s Multi-Million Ringgit Loss
Both funds had invested about RM43.9 million in the e-commerce platform.
The couple pled not guilty before Sessions Court judge Rosli Ahmad after the charge was read.
They were alleged to have fraudulently made an RM8 million payment from FashionValet’s bank account to 30 Maple Sdn Bhd without approval from FashionValet’s board of directors.
The alleged offence occurred at the Public Bank Berhad’s Bukit Damansara branch on 21 August 2018.
30 Maple runs the luxury headscarf brand, dUCK, also owned by the couple.
The prosecution was led by Deputy Public Prosecutor Datuk Wan Shaharuddin Wan Ladin while Vivy and Fadza were represented by lawyer Ashok Athimulan.
READ MORE: “Maybe They Should Have A Life” – Aireen Omar’s Take On Speculations Levelled Against FashionValet
READ MORE: MACC Raided FashionValet Offices, Vivy Yusof & Husband Called To Give Statement
READ MORE: Finance Ministry Outlines 3 Reasons Why FashionValet Failed
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