FashionValet founders Datin Vivy Sofinas Yusof and her husband, Datuk Fadzarudin Shah Anuar, are set to face an additional joint alternative charge for dishonest misappropriation.
The charge is allegedly linked to the investment funds of Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB).
Deputy public prosecutor Datuk Wan Shaharuddin Wan Ladin informed Sessions Court judge Rosli Ahmad that the alternative charge would be filed under Section 403 of the Penal Code.
“This serves as an early notice to the defence and to the court. Today, we will proceed with one charge,” he said.
Earlier in the same court, Vivy, 37, and Fadzarudin, 36, pleaded not guilty to a joint charge of criminal breach of trust (CBT) involving RM8 million linked to Khazanah and PNB.
The couple is accused of jointly committing CBT as directors of FashionValet Sdn Bhd, entrusted with investment funds from government linked investment companies,Khazanah Nasional Berhad (Khazanah) and Permodalan Nasional Berhad (PNB), totalling RM8 million.
They are alleged to have fraudulently made an RM8 million payment from FashionValet’s bank account to 30 Maple Sdn Bhd without approval from FashionValet’s board of directors.
30 Maple, which runs the luxury headscarf brand, dUCK, is owned by the couple.
The alleged offence took place at the Public Bank Berhad branch in Bukit Damansara on Aug 21, 2018.
If convicted under Section 409 of the Penal Code read with Section 34, the couple faces a jail sentence of not less than two years and up to 20 years, with whipping and a fine.
The DPP offered bail between RM100,000 and RM200,000 each.
He said the amount offered was reasonable due to the severity of the offence.
“The prosecution has the right to request additional conditions for bail.
“In this case, we sought for the accused persons to report themselves at the Malaysian Anti-Corruption Commission (MACC) headquarters in Putrajaya.
“We also sought for their passports to be surrendered to the court as there is a flight risk and we need to ensure justice for all parties involved.
“They can make applications to retrieve their passports at any time and on reasonable grounds,” he said.
Lawyer Ashok Athimulan, representing the couple, argued that the bail amount was too high and almost punitive.
“The presumption is that they are innocent until proven guilty,” he said.
Ashok further stated that his clients were not a flight risk and had cooperated during the investigation without evading authorities.
“They have four children. They live in Kuala Lumpur and their family is also here.
“They have claimed trial and are looking forward to clearing their names,” he said.
The lawyer also mentioned that Vivy and Fadzarudin were facing financial hardship and had to depend on their friends and family financially.
Judge Rosli fixed bail at RM100,000 in one surety for each of the accused.
He allowed the additional conditions requested by the prosecution and ordered the accused not to disturb or influence the witnesses.
The case is set for mention on Jan 22 next year.