PUTRAJAYA (Nov 11): The Malaysian Anti-Corruption Commission (MACC) is reviewing and investigating the cash flow received by the founding couple of commerce platform FashionValet Sdn Bhd, said MACC chief commissioner Tan Sri Azam Baki.

Azam, who also confirmed the presence of the couple at the MACC headquarters here to give their statements on Monday, said his team is still in the process of obtaining explanations regarding the methods of receiving and spending the investments received from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB).

“Investigations are ongoing, and a review is being conducted on this couple regarding how much money (investments) they received from Khazanah and PNB," he said when contacted on Monday night.

Azam said until now his team has taken statements from nine witnesses including the couple to complete the case investigation.

He did not rule out the possibility that the couple would return the next day to continue the process of recording their statements to the MACC.

“I do not deny that either tomorrow or the day after they will be called back because the investigation is still ongoing," he said.

He also said that so far no arrests have been made and all witnesses have given their full cooperation to the MACC.

Earlier, a vehicle carrying the couple arrived at the MACC headquarters at 2.30pm, and until 8pm, there had been no movement out.

Monday is the fifth day of the recording of statements from the couple after the MACC detected a number of suspicious account transactions in the investigation involving the RM43.9 million investment loss suffered by Khazanah and PNB in FashionValet.

Prior to this, Azam was reported to have said his investigation is currently focused on identifying the assets and ownership as well as the financial sources obtained by the FashionValet founders.

Previously, the media reported that about 60 boxes containing financial documents seized from FashionValet, Khazanah, and PNB last Thursday needed to be thoroughly examined, especially regarding the agreements between the three parties. 

https://www.theedgemarkets.com/node/733551