Melbourne Couple Face Theft Trial for Spending $6.6 Million Mistakenly Deposited in Their Crypto Account
Summary:
A Melbourne couple, who mistakenly received 10.5 million AUD ($6.6 million) in their Crypto.com account and spent the funds, will be facing a plea trial in October for a theft charge. The mishap occurred in May 2021 when an irregular refund amount was sent instead of the 100 AUD they initially deposited. The pair allegedly purchased properties, vehicles and transferred a large sum to a Malaysian account before the mistake was discovered and a lawsuit was filed in the Victoria Supreme Court. The woman pleaded guilty to a theft charge and is under an 18-month control order after serving a 209-day sentence, while the man will face a plea trial in October.
An Australian duo from Melbourne, who mistakenly had 10.5 million AUD ($6.6 million) transferred into their account, will be fronting a plea hearing in October for a theft allegation after spending the erroneously received funds in 2021. In May of the same year, funds were shifted by Thevamanogari Manivel to her partner Jatinder Singh's Crypto.com account. An irregularity was identified by the exchange, noticing that the bank account details didn't match with that on the exchange, leading them to issue a refund. However, it wasn't 100 AUD, the amount the couple attempted to deposit, that was refunded. In error, the exchange transferred a whopping 10.5 million AUD to Manivel's bank account. This blunder wasn't detected until December 2021 during the exchange's year-end audit. A lawsuit was filed by the exchange in the Supreme Court of Victoria with the judge determining that the incorrectly transferred sums should be restored to the trading platform of crypto. But there's a snag; it appears the pair had gone on a spending spree before discovery of the error. It's alleged the couple bought several properties, vehicles and other items, and transferred about 4 million AUD to a Malaysian bank account. One purchased property, a five-bedroom house in Craigieburn valued at 1.35 million AUD, was directed to be sold by the court with the resultant funds returned. In a court hearing in October 2022, the couple made the claim they believed they'd won a contest from Crypto.com. Singh professed to having received a notification concerning such a competition from the exchange. This was disputed by Crypto.com compliance officer Michi Chan Fores, asserting no such competition ever existed. Fores indicated notifications of this type were not sent to users. Recently, Manivel plead guilty to the charge of theft, having recklessly dealt with the spoils of crime, and was subjected to an 18-month community corrections order. This order includes six months of intensive compliance and unpaid community duties after already having served a 209 day custodial sentence. On the other hand, Singh will be appearing for a plea hearing on October 23.
Published At
9/24/2023 8:50:44 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.