MACC freezes account of company behind dUck brand

MACC freezes account of company behind dUck brand

PETALING JAYA: The Malaysian Anti-Corruption Commission has confirmed the freezing of several accounts under FashionValet, one of which is apparel company 30 Maple Sdn Bhd – in its investigation into FashionValet founders Datuk Fadzaruddin Shah Anuar and Datin Vivy Yusof.

30 Maple owns dUck, known for selling headscarves, and both companies were founded by the husband and wife duo, the New Straits Times reported.

“The MACC had seized accounts belonging to FashionValet, as for 30 Maple… if I am not mistaken, it has been frozen (as part of the investigation),“ Azam was quoted as saying.

MACC chief commissioner Tan Sri Azam Baki confirmed that several bank accounts connected to FashionValet and its founders were frozen by the graft busters on November 7.

In December 2018, FashionValet spent RM95 million into 30 Maple.

ALSO READ: MACC reviewing, investigating cash flow received by FashionValet founders – Azam Baki

Both retail companies dUck and 30 Maple are owned by FashionValet and founded by the husband and wife duo.

MACC is investigating Vivy and Fadzaruddin following the RM43.9 million losses sustained by government linked companies Khazanah Nasional Bhd and Permodalan Nasional Bhd after injecting their investments into the company.

The GLC’s losses were due to a total of RM47 million into FashionValet in 2018, only to divest their stake for only RM3.1 million in 2023.

MACC would also summon two to three additional witnesses to assist in its investigations into FashionValet, according to Azam, adding that these witnesses are an addition to the four others previously mentioned.

ALSO READ: Probe to focus on identifying assets procured by FashionValet – MACC

“To date, we have taken statements from 14 individuals in connection with our probe into the company, with another four witnesses to be called.

“There is also a possibility of two to three more witnesses. We will submit the investigation papers to the deputy public prosecutor for further instructions within two weeks,“ he was quoted as saying.

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