KUCHING: A relationship manager with an international bank was sentenced to seven years’ jail, fined RM40mil and ordered to receive 16 strokes of the cane by the Sessions Court here after pleading guilty to fraud and money laundering charges.
Judge Iris Awen Jon sentenced Kho Yung Kang, 39, after he pleaded guilty to 16 counts of fraud under Section 420 of the Penal Code and eight counts under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
Kho pleaded guilty to defrauding eight senior citizens aged between 60 and 75 of RM1.58mil through a non-existent bond investment scheme, as well as committing money laundering at the bank where he worked between September 2022 and February 2024.
For each of the 16 cheating charges, Kho was sentenced to between three and four years’ jail and one stroke of the cane, with the jail terms to run concurrently from the date of his remand on May 23, 2025.
For each of the eight money laundering charges, he was sentenced to three years’ jail, with the terms to run concurrently from Sept 2, fined RM5mil or four months’ jail in default.
This brings the total sentence to seven years’ jail, a RM40mil fine and 24 strokes of the cane.
Kho failed to pay the fine.
According to the facts of the case, Kho was responsible for assisting customers with investments, including unit trusts, bonds and fixed deposits, as well as local and foreign remittances.
His modus operandi was to offer customers of the bank where he worked an investment scheme promising higher returns.
Based on the representation, Kho obtained the customers’ signatures and biometric verification, but the funds were not used for investment purposes.
Instead, the money was transferred from the customers’ accounts to third-party accounts via DuitNow, interbank transfers or Cashier’s Orders without their knowledge or consent, for Kho’s personal use.
Deputy Public Prosecutors Chuah Kai Sheng and Maryam Jamielah Ab Manaff appeared for the prosecution, while Kho was unrepresented.- Bernama
