- The exchange issued a refund and sent the equivalent in $6.7M by mistake
- They bought four houses, cars, transferred millions to a Malaysian bank account
Jatinder Singh will stand plea trial in October. His wife Thevamanogari Manivel was sentenced to 18 months of community corrections with six months of unpaid community service, Cointelegraph reported.
The Australian couple received the equivalent in USD 6.7 million in AUD and spent all the money in 2021. The exchange had sent it by mistake.
Grave mistake
In May 2021, Manivel transferred money to Singh’s Crypto.com account. The exchange issued a refund because the bank and the exchange accounts did not match. However, the exchange mistakenly sent 10.5 million AUD to Manivel’s bank account instead of the 100 AUD she had transferred.
Crypto.com performed its annual audit in December 2021 and detected the mistake. A Victoria Supreme Court judge ruled the couple had to return the money after the exchange filed a lawsuit.
Four houses, cars, the works
In the meantime, the couple had bought four houses, cars, and other items, and transferred a few million to a Malaysian bank account. One of the houses, a five-bedroom property, was worth 1.35 million AUD. The court ordered the couple to sell it and give the money back.
A prize from the exchange
In October the following year, the couple claimed in court that they had received a prize from the crypto exchange. The husband insisted he had been informed about a competition. However, Crypto.com compliance officer Michi Fores assured the exchange had not organized a competition and would never give users such information.
Reckless dealing with crime proceeds
Manivel was charged with theft. She pled guilty to reckless dealing with criminal proceeds in September this year and received a community corrections order of a year and a half. This includes half a year of unpaid community service and intensive compliance.
She has already spent 209 days in jail. Her husband’s plea trial is scheduled on October 23.
