Tipu, ubah wang haram, pegawai bank dipenjara 7 tahun, denda RM40 juta

A man named Kho Yung Kang, 39, has been sentenced to seven years in prison, 24 months in jail, and a RM40 million fine by the Kuching High Court. Kho was found guilty of 16 charges of fraud and eight charges of converting haram money. He is accused of swindling eight elderly individuals between the ages of 60 and 75, a total of RM1.58 million, through a fraudulent investment scheme and money laundering activities within his bank from September 2022 to February 2024.

Kho violated Section 420 of the Penal Code and Section 4(1)(b) of the Prevention of Money Laundering and Financing of Terrorism and Illicit Activities Act 2001 (AMLA). Judge Iris Awen Jon ordered Kho to serve his sentence consecutively from the date of his arrest on May 23, 2025. According to the facts of the case, Kho was responsible for assisting customers with investment-related matters, including stocks, bonds, and fixed-term accounts, in addition to handling local and foreign currency transfers.

The defendant's modus operandi involved offering new investment opportunities with promised higher returns to bank customers. He then obtained signatures and biometric information from customers when making representations, but the promised money was never used for investment purposes. Instead, the money was transferred from customers' accounts to third-party accounts via DuitNow, transferring between banks or money order, without the customers' knowledge or consent for personal use.

The prosecution was handled by Deputy Public Prosecutor Chuah Kai Sheng and Maryam Jamielah Ab Manaff, while Kho was not represented by a lawyer.