Former banking official sentenced to four years in prison for accepting $470,000 in cryptocurrency bribes and false letters of credit.
A former Hong Kong bank official who falsely authenticated more than $1.6 billion in letters of credit was sentenced to four years in prison and ordered to repay more than $470,000 he received in cryptocurrency bribes.
Lam Chun-yin, 32, who was a customer relationship manager at China Construction Bank (Asia), previously pleaded guilty in The Standard District Court. Report saturday
Judge Ernest Lin Kam-hong said deterrent sentences were needed even for first-time offenders, especially in light of the serious nature of the crime and its impact on society.
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