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KUALA LUMPUR - The Sessions Court was told today that there were two fund transfers totalling RM20.3 million from Permodalan Nasional Berhad (PNB) to Fashion Valet Sdn Bhd.
Maybank Jalan Tun Razak branch assistant manager Shamsiah Musa, 55, said the two transactions were made on June 4, 2018, and Dec 20, 2018.
"I have reviewed all monthly account statements for 2018. I confirm that there were only two transfers from PNB's Malayan Banking Berhad account to Fashion Valet Sdn Bhd's Public Bank account," she said.
She was reading her witness statement on the second day of the trial involving FashionValet founder Datin Vivy Yusof and her husband Datuk Fadzarudin Shah Anuar, who are facing criminal breach of trust (CBT) charges over RM8 million in investment funds from Khazanah Nasional Berhad and PNB.
Referring to PNB's account statements, the second prosecution witness confirmed the transfers were for RM11,953,509 on June 4, 2018, and RM8,365,001 on Dec 20, 2018.
Shamsiah said she could not confirm any information or notes indicating the reason or purpose for the transfers, as she did not have access to transactions after six months, and checks could only be made based on available bank statements.
When questioned by the couple’s lawyer Datuk M. Athimulan about the transactions, Shamsiah said there were no freezes or restrictions imposed by PNB, and confirmed that they were valid and transparent.
Athimulan: When the bank received the funds from PNB, did PNB give any instructions that the use of the funds be frozen or restricted?
Shamsiah: No.
Athimulan: Based on bank records, all transactions relating to the PNB funds were processed lawfully, transparently, and in compliance with banking standards and procedures?
Shamsiah: Agreed.
The witness also agreed with the lawyer that she had no knowledge of or access to the terms of the agreement between PNB and Fashion Valet.
Vivy, whose full name is Vivy Sofinas Yusof, 38, and her husband Fadzarudin, 37, as directors of FashionValet Sdn Bhd, are charged with intentionally committing CBT involving investment funds from Khazanah and PNB.
The RM8 million payment was allegedly made from FashionValet's bank account to 30 Maple without the approval of the company’s board of directors, at Public Bank Berhad, Bukit Damansara branch, on Aug 21, 2018.
They are charged under Section 409 of the Penal Code, which provides for imprisonment of between two and 20 years, as well as caning and a possible fine, upon conviction.
The couple also pleaded not guilty to an alternative charge of intentionally and dishonestly misappropriating FashionValet's property, namely the RM8 million from Khazanah and PNB, at the same location and date.
This alternative charge was brought under Section 403 of the Penal Code, which carries imprisonment of between six months and five years, with caning and a fine, upon conviction.
The trial before Judge Rosli Ahmad resumes on Aug 17. - BERNAMA
