PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has uncovered several suspicious account transactions related to an investigation into RM43.9 million in investment losses by Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB) in FashionValet.
According to MACC Chief Commissioner Tan Sri Azam Baki, these questionable transactions, identified through ongoing investigations, date back from 2018 up until last year.
“The investigation team has found irregular transactions involving a company linked to the founders of FashionValet and several other parties under investigation,” Azam stated. “We have detected these dubious financial transactions from 2018 through 2023.”
Azam further disclosed that the MACC has seized approximately 60 boxes of documents from FashionValet, Khazanah, and PNB to support the investigation. The MACC’s forensic accounting division is reviewing the flow of funds, origins, and expenditures to assess any potential elements of corruption or fraud.
He added, “We suspect some of the investment funds may have been misused, and we are working to identify those instances.”
MACC is also tracking items displayed on social media by FashionValet’s founders to verify their origin. When asked about possible detention, Azam confirmed there are currently no plans as the couple is cooperating with the investigation.
Previously, the founders, Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar, were seen at the MACC headquarters to provide statements. The MACC had also searched the couple’s residence, seizing 11 luxury handbags and a luxury watch, worth around RM200,000 collectively. Additionally, several personal and company bank accounts belonging to the founders have been frozen.
