💸 Fake paper, real crypto, genuine prison

Lam Chun-yin, a customer relationship manager at China Construction Bank (Asia), falsely authenticated letters of credit worth $1.6 billion and pocketed $470,000 in crypto bribes for his trouble.

A Hong Kong court handed him four years. The judge's reasoning was blunt: banking is the backbone of Hong Kong's economy, and this kind of scheme corrodes the city's reputation as a global financial hub. First-time offender? Noted. Irrelevant.

Hong Kong's anti-graft agency ICAC has arrest warrants out for others involved, per The Standard — so the story isn't over. Lam had pleaded guilty in advance. No drama in the courtroom. The numbers did that job already.

Cointelegraph