KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) is focusing its investigation on identifying the assets, ownership, and financial sources acquired by FashionValet Sdn Bhd (FashionValet) founders, Datin Vivy Yusof and her husband, Datuk Fadzarudin Shah Anuar.
MACC Chief Commissioner, Tan Sri Azam Baki, said that the investigation includes examining how investments from Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB) were utilised by FashionValet.
“(We want) to see how the money was spent, whether the expenditure was legitimate or not, and whether it breached any laws.
“So, the assets identified that we mentioned yesterday—[the founders] need to provide explanations on how these were acquired and how [the funds were spent],” he told Bernama today.
Azam added that the commission will also determine whether the investment funds received by FashionValet were used appropriately and in line with agreements. He noted that around 60 boxes of financial documents seized from FashionValet, Khazanah, and PNB yesterday need thorough review, particularly those related to agreements between PNB, Khazanah, and FashionValet.
He mentioned that investigators had questioned the couple regarding issues that arose following the review of documents, accounts, and investments tied to FashionValet, which included matters related to property and assets.
On Thursday, Azam disclosed that the MACC had detected several suspicious financial transactions from 2018 up to last year as part of its investigation into investment losses incurred by Khazanah and PNB in FashionValet.
The MACC also confirmed it is now in the process of tracing items belonging to the FashionValet founders that were previously showcased on social media.
“The MACC has also seized 60 boxes containing various documents from FashionValet, Khazanah, and PNB to assist in the investigation.
“The forensic accounting division of the MACC is reviewing all the seized documents,” he said.
Earlier today, the couple appeared at the MACC headquarters for the fourth time and spent five hours providing their statements.
Meanwhile, the Public Accounts Committee (PAC) is set to commence proceedings in December on the RM43.9 million public investment losses involving FashionValet.
PAC Chair Datuk Mas Ermieyati Samsudin stated that the proceedings, expected to start in the second week of December, will call upon Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB) to provide explanations regarding the investment.
Public discontent arose following a recent revelation by the Ministry of Finance in a written parliamentary response that Khazanah and PNB sold their RM47 million stake in FashionValet for only RM3.1 million.
According to the Ministry of Finance, the sale was deemed a responsible exit strategy by Khazanah and PNB to a strategic investor. – November 8, 2024