FashionValet founders Vivy Yusof, Fadzaruddin to face charges ...

Vivy and Fadzaruddin are expected to be charged in court on December 5, 2024 in connection with the RM43.9m investment losses involving Khazanah, PNB. — File picture courtesy of FashionValet

By Malay Mail

Wednesday, 04 Dec 2024 9:40 AM MYT

KUALA LUMPUR, Dec 4 — The founding couple of the e-commerce platform FashionValet, Datin Vivy Yusof, and her husband, Datuk Fadzaruddin Shah Anuar, are expected to be charged at the Sessions Court here tomorrow.

The charges are believed related to the investment losses of government-linked investment companies Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB) in FashionValet, totalling RM43.9 million.

Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki confirmed the court action against the duo, several local news outlets including Berita Harian and Harian Metro reported last night, after the couple were arrested at noon but released on bail earlier yesterday.

The MACC announced the completion of its investigations into the investment loss on November 28, following its submission to government lawyers for review and consideration.

The MACC previously said it detected several suspicious transactions in the investigation concerning the investment losses in the e-commerce company.