Cover image via 
Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news.
FashionValet founders Datin Vivy Sofinas Yusof and her husband Datuk Fadzarudin Shah Anuar are set to face a 15-day criminal trial next year for allegedly misappropriating RM8 million in investment funds
The funds came from government-linked investment firms Khazanah Nasional Berhad and Permodalan Nasional Berhad (PNB).
The high-profile couple, known for building the FashionValet e-commerce empire and the luxury headscarf brand dUCk, are accused of transferring RM8 million from FashionValet's accounts to another company they own — 30 Maple Sdn Bhd — without approval from the board of directors.
The trial has been scheduled for 13–17 April, 18–22 May, and 8–12 June, 2026.
Sessions Court judge Rosli Ahmad confirmed the schedule during case management today, 23 June. The couple was absent, as their attendance was previously exempted, reported the New Straits Times.
According to deputy public prosecutor Datuk Wan Shaharuddin Wan Ladin, the prosecution will call up to 26 witnesses to testify.
Defence lawyer M Athimulan requested a later mention date to allow time to review forensic reports and prepare for trial.
The next mention has been set for 27 October.
The CBT charge, framed under Section 409 of the Penal Code, carries a potential jail term of up to 20 years, whipping, and a fine.
The couple also faces an alternative charge under Section 403 for dishonestly misappropriating the same amount, which carries a lesser penalty of six months to five years' imprisonment.
The alleged offence took place on 21 August 2018, the same year Khazanah and PNB invested RM47 million into FashionValet as part of a move to support local entrepreneurship and homegrown brands
Soon after receiving the investment, FashionValet purchased 30 Maple Sdn Bhd — the parent company of dUCk — for a whopping RM95 million in December 2018.
According to filings with the Companies Commission of Malaysia (SSM), 30 Maple was wholly owned by Vivy and Fadzarudin at the time.
The acquisition was paid for via the issuance of 851,686 new ordinary shares in FashionValet, based on an internal valuation that placed the dUCk brand at RM68.8 million and goodwill from 30 Maple at RM21 million.
While 30 Maple was indeed a profitable company, recording RM8.5 million and RM7.7 million in profits in 2017 and 2018, respectively, and paying out RM10 million in dividends in 2018, the timing and structure of the RM95 million deal raised eyebrows.
Critics argue the move effectively channelled public funds into a company already owned by the founders, under the guise of an internal acquisition.
FashionValet has since ceased operations, with the e-commerce platform formally shut down in 2023.
