KUALA LUMPUR: FashionValet Sdn Bhd founders Datin Vivy Yusof and Datuk Fadzarudin Shah Anuar today pleaded not guilty in the Sessions Court to charges of criminal breach of trust (CBT) involving RM8 million in investment funds from Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB). The alleged incident dates back six years.
The couple, Vivy Sofinas Yusof, 37, and Fadzarudin, 36, appeared before Judge Rosli Ahmad, where the charge was read. Both denied the allegations, which accuse them, as directors of FashionValet, of misappropriating funds entrusted to the company.
Alleged Misuse of Funds
The prosecution claims that on August 21, 2018, the duo, acting with common intent, transferred RM8 million from FashionValet’s bank account to 30 Maple Sdn Bhd without the approval of FashionValet’s board. The alleged offence occurred at Public Bank Berhad, Bukit Damansara Branch.
The charge is framed under Section 409 of the Penal Code, read together with Section 34, which prescribes a sentence of 2 to 20 years in prison, whipping, and a fine upon conviction.
Bail and Court Conditions
Judge Rosli set bail at RM100,000 each, with one surety, and imposed strict conditions:
- Both must report monthly to the Malaysian Anti-Corruption Commission (MACC).
- Their passports are to be surrendered to the court.
- They are prohibited from harassing or influencing witnesses.
The case is scheduled for mention on January 22 next year.
Prosecution’s Argument
Deputy Public Prosecutor Datuk Wan Shaharuddin Wan Ladin emphasized the seriousness of the case, describing the offence as non-bailable. However, he acknowledged the couple’s cooperation with MACC investigations and proposed bail of RM100,000 to RM200,000 each, adding that this amount was reasonable given the gravity of the charges.
“The accused have shown good cooperation, attending investigations even on weekends. However, due to the severity of the offence, conditions like monthly reporting to MACC and surrendering passports are essential,” said Wan Shaharuddin, who also hinted at filing an alternative charge under Section 403 of the Penal Code.
Defense Seeks Leniency in Bail
Defense lawyer A. Ashok appealed for a lower bail, citing the couple’s financial constraints and their commitment to clearing their names. “Their assets are frozen, and they rely on friends and family for bail. A high bail amount punishes them prematurely,” he argued.
Ashok assured the court of his clients’ cooperation, emphasizing their strong ties to Malaysia, including their four children and business operations.
“The accused have no intention to abscond and will continue to cooperate fully with the legal process,” he concluded.
Wan Shaharuddin countered that the proposed bail was fair and not punitive, emphasizing the importance of safeguarding court attendance and witness integrity.
