⚠️ JUST IN: Hong Kong banker jailed for corruption
Lam Chun-yin, 32, a China Construction Bank manager, accepted $470K in Tether between April and June 2022 to authenticate fake standby letters of credit worth $1.6B. The documents were used to fraudulently draw funds. Sentenced today to 4 years, ordered to repay the full bribe amount. More arrest warrants issued for co-conspirators still at large.
Hong Kong's anti-corruption agency noted criminals are increasingly using crypto to hide bribe payments. 👇
Lam Chun-yin, 32, a China Construction Bank manager, accepted $470K in Tether between April and June 2022 to authenticate fake standby letters of credit worth $1.6B. The documents were used to fraudulently draw funds. Sentenced today to 4 years, ordered to repay the full bribe amount. More arrest warrants issued for co-conspirators still at large.
Hong Kong's anti-corruption agency noted criminals are increasingly using crypto to hide bribe payments. 👇
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