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Thursday, November 7, 2024

FashionValet probe: Suspicious transactions detected, possible fraud being investigated, says MACC chief

 

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has uncovered several suspicious transactions while scrutinising documents related to the investigation into FashionValet and 30 Maple Sdn Bhd, Malay language portal Astro Awani reports.

MACC chief commissioner Tan Sri Mohd Azam Baki said that the Forensic Accounting Division is currently examining about 50 to 60 boxes of documents from the company, with a report to be submitted to the Investigation Division.

He confirmed that the company's founders, Datin Vivy Yusof and Datuk Fadzaruddin Shah Anuar, have not been remanded but are cooperating by providing statements to aid the investigation.

"This afternoon, the investigation has so far revealed questionable account transactions from the company 30 Maple and other parties under investigation. We have also identified several suspicious financial transactions," Astro Awani quoted him as saying.

These transactions span from 2018 to 2023. The forensic accounting division's review is ongoing, focusing on the flow of funds and the expenditure to detect potential elements of corruption or other fraud-related offences, he added.

Mohd Azam also said there were suspicions of misused investment funds, though investigations are still ongoing.

He noted the need for individuals to explain luxury items displayed on their social media accounts to determine any connection with the investment funds obtained.

Earlier, Vivy was seen leaving the MACC building at around 4:05pm. However, her husband, Fadzaruddin, remained inside.

Media reports noted Vivy's departure with her lawyer and an MACC officer in the vehicle. Two other vehicles, presumably carrying MACC officers, escorted her.

MACC sources reported that Vivy returned to the MACC building at 8:15pm to resume her statement recording, expected to conclude at around 10pm.

The couple initially arrived at the MACC headquarters at about 2:30pm to continue giving statements regarding investment losses of RM43.9mil involving Khazanah and Permodalan Nasional Bhd.

Thursday marks the third day the couple has been called by the MACC to assist with the investigation, conducted under Section 18 of the MACC Act 2009.

Previously, media reports indicated they were expected at 10am but rescheduled to 2pm.

On Nov 6, the MACC froze several personal and company bank accounts of FashionValet founders, valued at approximately RM1.1mil. This action followed the MACC's probe into the RM43.9mil investment losses involving Khazanah Nasional Bhd and Permodalan Nasional Bhd.

Since the investigation commenced, MACC, through "Ops Favish", has frozen about 11 personal accounts and six company accounts managed by the couple, valued at around RM1.1mil, to support the investigation.

Several handbags and a luxury watch, valued at approximately RM200,000, were seized from the couple's premises. - Star

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