FashionValet scandal: Suspicious transactions, MACC to investigate possible fraud
"At this point, the investigation has concluded that there are suspicious transactions in the accounts of 30 Maple and several other parties being investigated. We have also detected some suspicious financial transactions."
KUALA LUMPUR - The Malaysian Anti-Corruption Commission (MACC) has detected several suspicious transactions while reviewing documents obtained during the investigation into FashionValet and 30 Maple Sdn Bhd.
MACC Chief Commissioner Tan Sri Azam Baki said that the Forensic Accounting Division is currently reviewing about 50 to 60 boxes of documents related to the companies and a report would be submitted to the Investigation Division.
So far, he confirmed that the founders of the companies Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar had not been remanded but were required to provide statements to assist in the investigation.
"At this point, the investigation has concluded that there are suspicious transactions in the accounts of 30 Maple and several other parties being investigated. We have also detected some suspicious financial transactions," he said yesterday.
These transactions spanned from 2018 to 2023. The forensic accounting division is continuing to review the documents.
The investigation is looking into the flow of funds, how the money was spent and whether there were any elements of corruption or other criminal offences such as fraud.
Azam also mentioned that the MACC believed some of the investment funds were misused in this case, but the investigation was still ongoing.
He added that both individuals need to explain the luxury items previously displayed on their social media accounts, to assess the relationship between the value of these items and the investment funds obtained.
Yesterday, Vivy was seen leaving the MACC building around 4.05pm.
However, her husband, Fadzaruddin, did not get into the same vehicle, and it was believed that he was still inside the building.
Media observations showed that Vivy was accompanied by her lawyer and a MACC officer in the vehicle.
Additionally, two other vehicles, believed to be carrying more MACC officers, were seen escorting Vivy’s vehicle.
MACC sources informed that Vivy returned to the MACC building to continue her statement-taking session at 8.15pm, with the session concluded around 10pm.
It marked the third day the couple has been called by the MACC to assist with investigations under Section 18 of the MACC Act 2009.
On Nov 6, the MACC froze several personal and company bank accounts belonging to FashionValet co-founder Vivy and her husband Fadzaruddin, worth about RM1.1 million.
The freeze was carried out following the investigation into the couple regarding the loss of investment funds from Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), amounting to RM43.9 million.
According to sources, since the investigation began, the MACC, through 'Op Favish,' has frozen around 11 personal accounts and six company accounts under the couple's supervision, amounting to RM1.1 million, to assist with the investigation.
Additionally, several luxury handbags and a watch valued at approximately RM200,000 were also seized from the couple’s premises.
Efforts to record the duo’s statements continues today. - AWANI
