A total of 24 criminal charges were levied against former bank relationship manager Kho Yung Kang, who pleaded guilty to all of them at the Kuching Sessions Court yesterday (Sept 2).
16 cheating charges were framed under Section 420 of the Penal Code, while eight money laundering charges were brought under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613).
Alleged crimes
Based on the case’s facts, Kho was accused of using a non-existent ‘bond’ investment scheme to obtain money from bank customers.
Between March 21, 2022 and June 11, 2024, he made 16 unauthorised transfers totalling RM1,587,971.48 from the accounts of eight bank customers without their consent or knowledge.
After siphoning the funds, Kho allegedly transferred them into multiple third-party accounts before a portion of it was received and used to settle personal debts, commissions, and renovation works, reported The Borneo Post.
Sentence
Deputy public prosecutors Maryam Jamielah Ab Manaff and Chuah Kai Sheng prosecuted, while Kho was unrepresented in court.
Judge Iris Awen Jon sentenced Kho to between three and four years’ imprisonment and one stroke of the cane for each charge, where all 16 cheating charges will run concurrently and take effect from the date of his remand on May 23, 2025.
As for the eight money laundering charges, Kho was sentenced to three years’ imprisonment for each charge, effective from Sept 2, 2026 and to run concurrently, in addition to a fine of RM5 million for each charge.
This brings his total sentence to 75 years’ imprisonment, 16 cane strokes, and a RM40 million fine.
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