The fashion entrepreneur, whose full name is Vivy Sofinas Yusof, and Fadzaruddin, both 36, claimed trial after the charge was read to them before judge Rosli Ahmad.

They are accused of making a payment of RM8 million from Fashion Valet to 30 Maple Sdn Bhd, the firm that operates luxury headscarf brand Duck, without the board of directors’ approval.

They allegedly made the transfer at Public Bank’s branch in Bukit Damansara on Aug 21, 2018, in their capacity as directors of Fashion Valet.

The amount was allegedly taken from an entrusted investment fund of sovereign wealth fund Khazanah Nasional Bhd and asset manager Permodalan Nasional Bhd.

The charge was framed under Section 409 of the Penal Code, read with Section 34 of the same code, which provides for imprisonment of between two and 20 years, whipping, and a fine, upon conviction.

The court allowed Vivy and Fadzaruddin bail of RM100,000 each and ordered them to report to the Malaysian Anti-Corruption Commission office in Kuala Lumpur once a month.

They were also told to surrender their passports until the conclusion of the case.

Deputy public prosecutor Wan Shaharuddin Wan Ladin handled the prosecution while lawyer Ashok Athimulan acted for both the accused.

The court fixed Jan 22 next year for case mention.