Gold Shop Supervisor Jailed for Pawning Bars to Trade Cryptocurrency

A gold shop supervisor in Kuala Lumpur was sentenced to 16 months' jail and three strokes of the cane for pawning RM176,200 worth of gold bars to trade in cryptocurrency.

The accused, Koh Mun Hoe, 33, pawned three 999 gold bars weighing a total of 150 grammes at a pawnshop from June 4 to June 8. He used the money to trade in cryptocurrency through the Huobi app, but ended up with losses.

CCTV footage showed Koh taking the gold bars without his employer's consent and carrying them out of the premises. Investigations found that he had no prior record, and his lawyer pleaded for leniency citing two young children, a recent divorce, and the need to care for his parents.