Cryptocurrency as a new bribery tool? Former Hong Kong bank manager pleads guilty to accepting $470,000 USDT The Hong Kong ICAC has charged Lin Junxian, a former client manager at CCB Asia. The defendant admitted to conspiring with others to accept over $470,000 worth of Tether (USDT) in exchange for certifying multiple fake standby letters of credit and collateral documents for an overseas fintech company. These fraudulent documents involved amounts exceeding $1.6 billion and were originally intended as collateral tools for insurance-linked securities investments. Lin Junxian, who had no authority to handle letters of credit or commercial loans, abused his position as a bank employee to issue certification documents and later converted most of the USDT into Hong Kong dollar cash. He has pleaded guilty to conspiracy to accept advantages as an agent, while another charge of conspiracy to use false documents has been filed for court record purposes. Sentencing is scheduled for September 18.