RM8 Million Transfer from FashionValet to 30 Maple Account Detailed in Court

A Malaysian court heard that RM8 million was transferred from the FashionValet Sdn. Bhd. account to 30 Maple Sdn. Bhd. in two transactions on the same day in August 2018. CIMB Bank's Customer Service Manager, Azizan Hassan, testified that approximately two weeks after these transfers, RM10,213,537.28 was withdrawn from the 30 Maple account.

FashionValet is a well-known fashion e-commerce platform, while 30 Maple is associated with the popular 'Duck' brand of headscarves. Both companies were founded by Datuk Fadzarudin Shah Anuar and his wife, Datin Vivy Sofinas Yusof. The court heard that the balance in the 30 Maple account before the RM5 million transfer was RM2,678,853.48, and after a subsequent RM3 million transfer on the same day, the balance stood at RM7,678,853.48. The large withdrawal occurred on September 3, 2018, leaving a balance of RM75,087.59.

Vivy and Fadzarudin are facing trial for allegedly misappropriating RM8 million in investment funds from Khazanah and PNB. The charges stem from the alleged transfer of these funds from FashionValet's bank account to 30 Maple without the approval of the board of directors. They are also accused of two alternative charges of criminal breach of trust under Section 403 of the Penal Code for allegedly misusing company property.