The fashion entrepreneur, whose full name is Vivy Sofinas Yusof, and Fadzaruddin, both 36, pleaded not guilty after the charge was read before Kuala Lumpur sessions court judge Rosli Ahmad, Bernama reported.

They were charged with dishonestly misappropriating the investment funds from Khazanah and PNB at the Bukit Damansara Public Bank branch on Aug 21, 2018.

The charge was framed under Section 403 of the Penal Code which provides for six months to five years in jail, whipping, and a fine, upon conviction.

Last month, they were charged with criminal breach of trust involving the RM8 million.

They were 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 previous charge was framed under Section 409 of the Penal Code, which provides for imprisonment of between two and 20 years, whipping, and a fine, upon conviction.