KUALA LUMPUR: The RM8 million criminal breach of trust (CBT) trial involving Fashion Valet founders Vivy Yusof and her husband Fadzarudin Shah Anuar opened today with a banker confirming that the disputed funds were transferred to 30 Maple Sdn Bhd.
Taman Tun Dr Ismail CIMB customer service manager Azizan Hassan, 45, told the sessions court that RM5 million and RM3 million were transferred from Fashion Valet’s Public Bank account to 30 Maple’s CIMB account on Aug 21, 2018.
“I confirm that these transactions were made via online banking. I also confirm that the account balance before the RM8 million was credited was RM2,678,853.48,” she said.
Both transfers were recorded as “advances” from Fashion Valet to 30 Maple, the firm that operates the luxury headscarf brand Duck.
Azizan further testified that Vivy and Fadzarudin, who were authorised signatories of the 30 Maple account, withdrew RM10.21 million less than two weeks later on Sept 3.
She said RM5 million was subsequently deposited into 30 Maple’s account via online banking that same day before being withdrawn the following day in a transaction described as “interim dividend Fadzarudin Shah”.
Judge Rosli Ahmad allowed an early adjournment as defence counsel M Athimulan is on medical leave until Wednesday. Athimulan is expected to cross-examine Azizan on Friday.
Vivy and Fadzarudin, both 38, were jointly charged on Dec 5, 2024 with committing CBT involving investment funds from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) in their capacity as directors of Fashion Valet Sdn Bhd.
They are accused of committing CBT by authorising a payment of RM8 million from Fashion Valet’s corporate bank account to 30 Maple Sdn Bhd without approval from the company’s board of directors.
They allegedly committed the offence at the Bukit Damansara branch of Public Bank on Aug 21, 2018.
The charge was framed under Section 409 of the Penal Code, which carries a maximum jail term of 20 years, whipping and a fine upon conviction.
They also pleaded not guilty to an alternative charge of dishonest misappropriation of property belonging to Fashion Valet, namely RM8 million in Khazanah and PNB investment funds, at the same location and on the same date.
The charge under Section 403 of the Penal Code carries a jail term of between six months and five years, whipping and a fine upon conviction.
Deputy public prosecutors Haresh Prakash Somiah and Noor Syazwani Sobry appeared for the prosecution.
