Kuching banker gets seven years’ jail, 16 lashes after draining client accounts via DuitNow

Kuching banker Kho Yung Kang was recently handed a seven-year prison sentence, a RM40 million fine, and 16 strokes of the cane by the Sessions Court after admitting to allegations of fraud and money laundering. The 39-year-old defrauded eight senior citizens aged between 60 and 75 of RM1.58 million through a fictitious bond investment scheme, as well as engaging in money laundering activities at the bank where he worked from September 2022 to February 2024.

Each of the 16 fraud charges carried a three to four-year sentence, with an additional stroke of the cane for each conviction, while the eight money laundering charges warranted three years' imprisonment, coupled with fines ranging from RM5 million or four months' jail if failed to pay. Kho, who provided investment advice on bonds, unit trusts, and fixed deposits, along with local and overseas remittances, tricked customers into signing up for his fraudulent scheme, transferring the funds to third-party accounts without their knowledge or consent.

The prosecution, represented by Deputy Public Prosecutors Chuah Kai Sheng and Maryam Jamielah Ab Manaff, sought the severe punishment for Kho, who failed to pay the fine.