The couple is being charged in connection with the loss of investment funds amounting up to RM43.9mil.
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This was confirmed by the Chief Commissioner of the Malaysian Anti-Corruption Commission Tan Sri Azam Baki, according to a Bernama report yesterday . On 7 November, the MACC confirmed it found several suspicious transactions made to a company linked to the founding partner of FashionValet from 2018 until last year, though it didn’t say who.
It was also reported that announcements of FashionValet’s closure of its e-commerce platform in 2022 had raised eyebrows on how a business that was recording multi-million dollar losses could convince two of the country’s largest state investment funds to inject money into it.
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