Former China Construction Bank Asia Client Manager Admits Taking $470K USDT Bribe

A former client manager at China Construction Bank (Asia) has admitted to taking a $470,000 (approximately 644 million won) bribe in USDT, with sentencing pending. The Hong Kong Independent Commission Against Corruption (ICAC) announced on September 9 that Lam Chun-yin, the former client manager, pleaded guilty to accepting bribes from employees of a financial technology company and accomplices in collusion at a Hong Kong district court.

The court has set a sentencing date for September 18 and ordered Lam Chun-yin to remain in custody until then. ICAC reported that Lam accepted USDT as payment for authenticating multiple false documents used as guarantees for insurance-related investment transactions without bank authorization. China Construction Bank (Asia) discovered the incident during an internal investigation, reported it to ICAC, and cooperated with the investigation.