MACC Freezes RM1.1 MIllion Bank Accounts of FashionValet Founders & Seizes Items Worth RM200,000

The Malaysian Anti-Corruption Commission (MACC) has frozen multiple bank accounts, both personal and business, tied to the husband-and-wife founders of the e-commerce platform FashionValet, amounting to about RM1.1 million.

Sinar Harian reported that, according to a source, the freezing of the accounts is linked to an investigation into RM43.9 million in investment losses involving funds from Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB).

They froze accounts totaling RM1.1 million

It was also reported that MACC chief commissioner Tan Sri Azam Baki confirmed that the bank accounts had indeed been frozen, stating that the investigation falls under Section 18 of the MACC Act 2009.

The source added that since the investigation kicked off, MACC has frozen 11 personal and 6 company accounts tied to the couple, adding up to roughly RM1.1 million, as part of “Op Favish”.

MACC has also gathered statements from key people, including top officials from Khazanah, PNB, and FashionValet, as well as accountants, a valuation firm, and the introducer.

Seized items valued at a total of RM200K

On Monday, MACC also carried out simultaneous raids at the FashionValet office, the Finance Ministry, Khazanah, and PNB to collect financial documents linked to the investigation.

During the raid, 11 handbags and a luxury branded watch with a total estimated value of around RM200,000 were seized.

Azam confirmed the matter and said the couple is scheduled to return to the MACC headquarters to continue providing their statements.

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Also read: MACC Reveals Its Own Assistant Commissioner Has Been Charged for Misusing RM613,000 in Seized Assets

Source: The Edge Malaysia
Source: Bernama
Source: Harian Metro