According to a Sina Finance report cited by ChainCatcher, former customer manager Lam Chun-yin of China Construction Bank (Asia) Corporation Limited admitted to conspiring with an employee of a fintech company and that person’s associates to accept bribes paid in Tether, with a total value exceeding $470,000. The case centers on the illegal certification of multiple false documents without the bank’s authorization, which were used as guarantees for several insurance-related investment transactions. China Construction Bank (Asia) uncovered the matter through an internal investigation, then filed a corruption complaint with Hong Kong’s anti-corruption authorities and provided full assistance. Judge Ernest Lin adjourned the case to Sept. 18 for sentencing, and the defendant remains in custody under the Correctional Services Department in the meantime.
Former customer manager Lam Chun-yin of China Construction Bank (Asia) Corporation Limited has admitted to conspiring with an employee of a fintech company and that person’s associates to accept bribes in Tether (USDT) worth more than $470,000, according to Sina Finance, as cited by ChainCatcher.
The report said Lam illegally certified multiple false documents without authorization from the bank. Those documents were used as guarantees for several insurance-related investment transactions.
China Construction Bank (Asia) uncovered the case through an internal investigation. The bank later filed a corruption complaint with the Independent Commission Against Corruption and provided full assistance.
Judge Ernest Lin adjourned the case to Sept. 18 for sentencing. The defendant has been remanded in custody under the Correctional Services Department pending sentencing.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
