KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) conducted a raid today on FashionValet Sdn Bhd, the Finance Ministry, Khazanah Nasional, and Permodalan Nasional Bhd (PNB).
This action follows a significant investment loss of RM43.9 million linked to Khazanah and PNB.
Sources said that FashionValet founders Datin Vivy Yusof and her husband, Datuk Fadzaruddin Shah Anuar, were also questioned at the company's premises during the raid.
Footage shared on the MACC's TikTok page showed officers entering the headquarters and examining documents related to the investments from the two government-linked companies.
The couple was reportedly seen being interrogated by investigators, although their faces were blurred in the video.
The investigation is being conducted under Section 18 of the MACC Act.
On Nov 2, MACC Chief Commissioner Tan Sri Azam Baki confirmed the probe into the RM43.9 million loss incurred by Khazanah and PNB in FashionValet, assuring that the investigation would be "fair and professional."
On Nov 1, Vivy and Fadzaruddin announced their decision to step down from their positions in FashionValet due to the ongoing issues surrounding the sale of PNB and Khazanah's stakes in the company.
In 2018, Khazanah invested RM27 million and PNB RM20 million for minority stakes in FashionValet, which were later sold for just RM3.1 million.