FashionValet founders back at MACC for questioning


PUTRAJAYA: FashionValet founders Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar spent another day having their statements recorded over the RM43.9mil losses linked to Khazanah Nasional Bhd and Permodalan Nasional Bhd.

The couple were seen arriving at the Malaysian Anti-Corruption Commission (MACC) headquarters in Presint 7 here at 12.55pm yesterday.

At around 4.30pm, the duo was seen leaving the building with several other individuals believed to be MACC officers, based on the jackets with the commission’s name they wore.

It is learnt that investigators had asked for the husband and wife to return to the MACC office today for another round of questioning.

Vivy and Fadzaruddin were first summoned by MACC officers on Tuesday, where they reportedly spent several hours with investigators.

The MACC initiated an investigation into losses incurred by Khazanah and PNB from their investment into FashionValet, a local online fashion business.

The agency has so far called four witnesses from PNB, Khazanah and the Finance Ministry to have their statement recorded.

On Monday, investigators raided several premises including the FashionValet office and seized documents pertaining to its investigation.

In a written Parliamentary reply last week, the Finance Ministry said that Khazanah and PNB sold its shares in the e-commerce platform for RM3.1mil to NXBT Partners in 2023.

This contrasted with the RM47mil investment made by Khazanah and PNB in 2018, consisting of RM27mil and RM20mil respectively, for minority stakes in FashionValet.

Vivy and Fadzaruddin have apologised for the losses and resigned as chief executive officer and executive director respectively.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Teluk Intan man nabbed for allegedly forging awards, titles
Worker dies as fire engulfs factory in Kulai
Motorcycle riding student loses life in bus crash in Penang
Malaysia sending record 1,688-strong contingent to 2025 SEA Games
Sabah polls: Preparations in Semporna smooth ahead of Nomination Day
PLUS to implement contra-flow lane on Elite highway Nov 17-20
High Court rejects govt's application to postpone payment of RM1.1mil damages awarded to Ivana Smit's mother
Cops nab eight suspected of power theft to mine crypto near Teluk Intan
Jobless man changes plea in stabbing case
AI, EV are the future of Malaysia's automotive industry, says Zafrul

Others Also Read