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Former CCB (Asia) Manager Jailed for 4 Yrs Over Bribes of USD470,000+ in Tether and Illegal Certification of False Instruments
2026-09-18 15:49:27 A former bank manager who admitted taking bribes after being charged by the ICAC was sentenced at the District Court to four years’ imprisonment for conspiring with an employee of a fintech company (the Company) and other associates to accept Tether cryptocurrency worth over US$470,000 in total to illegally authenticate multiple false instruments as guarantees for various insurance-related investment transactions without the bank’s authorisation. Lam Chun-yin, 32, former relationship manager of China Construction Bank (Asia) Corporation Limited (CCB (Asia)), earlier pleaded guilty to one count of conspiracy for an agent to accept advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance. In sentencing, Judge Ernest Lin Kam-hung remarked that criminality of the defendant in this case was higher than in other similar cases since it involved forged bank documents that undermined Hong Kong’s reputation as an international financial centre and exposed the bank concerned to significant potential risk. The judge took a starting point of six years’ imprisonment and reduced the sentence by one-third due to the defendant’s guilty plea. With no exceptional circumstances warranting further reduction, the defendant was sentenced to four years in prison. The judge also ordered the defendant to make restitution of approximately HK$3.7 million, equivalent to the amount of the bribes involved, to CCB (Asia). ~ AASTOCKS Financial News Website: www.aastocks.com | |