Kho Yung Kang, a 39-year-old relationship manager at an international bank, was sentenced today by the Sessions Court to seven years' imprisonment, fined RM40 million, and ordered to receive caning after pleading guilty to multiple counts of fraud and money laundering [1, 2, 3].
Kho was convicted on 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 [1, 2, 3]. He defrauded eight senior citizens between the ages of 60 and 75 of RM1.58 million through a bogus bond investment scheme [1, 2, 3].
The offenses were committed at the bank where Kho worked between September 2022 and February 2024. Kho lured victims by promising high returns on an investment scheme. He secured their signatures and biometric verification before diverting funds without consent to third-party accounts using DuitNow transfers, interbank transfers, or cashier’s orders for his own use [1, 2, 3].
Kho was unrepresented during the trial. Authorities confirmed Kho failed to pay the RM40 million fine imposed alongside the jail term and caning sentence [1, 2, 3].
There is a discrepancy in reports about the number of cane strokes ordered: some sources state Kho will receive 24 strokes, while another states 16 strokes were ordered [1, 2, 3].
Kho was remanded on May 23, 2025, when concurrent jail terms for his fraud charges began [1, 2, 3]. The sentencing marks the formal conclusion of the trial proceedings.
The court is yet to confirm the exact number of cane strokes to be administered as part of the sentence scheduled for this week [1, 2, 3].
