CIMB branch manager Lee Hui Nee testifies that the sovereign wealth fund made two transfers of RM7.8 million and RM11.74 million to the e-commerce platform in March 2018.
KL Sentral CIMB branch manager Lee Hui Nee, 58, told the court the transactions were made in two tranches on March 23 and March 26, 2018.
She was testifying in the RM8 million criminal breach of trust (CBT) trial involving Fashion Valet founders Vivy Yusof and her husband Fadzarudin Shah Anuar.
“The first transaction was recorded on March 23, 2018, involving RM7,848,000, while the second transaction took place on March 26, 2018, involving RM11,742,000,” Lee said.
Lee said both transactions were made via interbank transfers and processed entirely by the banks.
During cross-examination by defence counsel Shaarvin Raaj Selva Kumar, Lee agreed CIMB had not received any directive from the authorities to freeze the funds following the two transactions.
She also agreed she did not know how Fashion Valet used the funds and had no knowledge of the terms of the agreement between Khazanah and Fashion Valet.
Shaarvin also pointed to other transactions involving Vivy and Fadzarudin, who are also the company’s directors, on March 23, 2018, based on Khazanah’s bank statement.
Shaarvin: On March 23, 2018, before the fund transfer to Fashion Valet was made, there was also a transaction to Fashion Valet director Vivy Yusof?
Lee: Agree.
Shaarvin: After the same transaction to Fashion Valet on the same date, there was also another fund transfer to Fashion Valet director Fadzarudin Shah?
Lee: Agree.
During re-examination by deputy public prosecutor Haresh Prakash Somiah, Lee was asked about the purpose of the transfers to the directors. She replied that she did not know.
“I don’t know. When the lawyer referred to the statement, I saw the two names on it but I did not know they were the directors of Fashion Valet. So my answers were based on the statement in front of me,” she said.
Vivy and Fadzarudin, both 38, were jointly charged on Dec 5, 2024, with committing CBT involving investment funds from Khazanah and Permodalan Nasional Bhd (PNB) in their capacity as directors of Fashion Valet.
They are accused of committing CBT by authorising a payment of RM8 million from Fashion Valet’s corporate bank account to 30 Maple Sdn Bhd without approval from the company’s board of directors.
They allegedly committed the offence at the Bukit Damansara branch of Public Bank on Aug 21, 2018.
The charge was framed under Section 409 of the Penal Code, which carries a maximum jail term of 20 years, whipping and a fine upon conviction.
They also pleaded not guilty to an alternative charge of dishonest misappropriation of property belonging to Fashion Valet, namely RM8 million in Khazanah and PNB investment funds, at the same location and on the same date.
The charge under Section 403 of the Penal Code carries a jail term of between six months and five years, whipping and a fine upon conviction.
The trial before judge Rosli Ahmad continues on Oct 16. - FMT
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