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

According to Sinar Harian, a source indicated that the account freezes are related to an investigation into RM43.9 million in investment losses involving funds from Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB). The accounts, comprising 11 personal and 6 business accounts linked to the couple, were frozen as part of “Op Favish,” with the total frozen amount reaching around RM1.1 million.

MACC chief commissioner Tan Sri Azam Baki confirmed the freezing of the accounts, stating that the investigation is being conducted under Section 18 of the MACC Act 2009. Statements have been gathered from key individuals, including top officials from Khazanah, PNB, and FashionValet, as well as from accountants, a valuation firm, and an introducer.

Seizure of Valuables Worth RM200,000

On Monday, MACC also conducted simultaneous raids at the FashionValet office, the Finance Ministry, Khazanah, and PNB to collect financial documents pertinent to the investigation. During these raids, 11 luxury handbags and a branded watch, with a combined estimated value of RM200,000, were seized. Azam confirmed the matter, adding that the couple is expected to return to MACC headquarters to continue providing statements.