A former client manager at China Construction Bank (CCB) Asia has pleaded guilty to conspiring to accept approximately $470,000 in Tether (USDT) as bribes. Lin Junxian admitted in Hong Kong District Court to colluding with overseas fintech personnel between 2022 and 2023 to authenticate unauthorized fake standby letters of credit and collateral documents totaling over $1.6 billion, which were used to guarantee insurance-linked securities transactions. In exchange for facilitating the fraudulent documentation, Lin received bribe payments settled in USDT and converted most of the funds into Hong Kong dollars for personal use. He pleaded guilty to one count of conspiracy to cause an agent to accept advantages and remains in custody pending sentencing scheduled for September 18.