A couple who mistakenly received $10 million from the Crypto.com exchange and chose to keep it have now been sentenced to jail.
This situation underscores the consequences of dishonesty.
The incident occurred in May 2021 when Jatinder Singh attempted to deposit $100 into his Crypto.com account using his partner Thevamanogari Manivelâs bank account. Due to a significant error by a Crypto.com employee in Bulgaria, $10.47 million was refunded to Manivel instead of $100. The mistake stemmed from discrepancies in the account names, leading to the initial deposit rejection.
**Crypto.com Discovers the Mistake**
Crypto.com did not discover the error until December 2021, during an internal audit that revealed the missing funds. By this time, Singh and Manivel had already spent a large portion of the money on two homes, two blocks of land in Melbourne, and even gifted $1 million to a friend. Singh claimed he believed they had won an online raffle.
**Actions Taken and Arrests**
After realizing the mistake, Crypto.com contacted the Commonwealth Bank, which informed Manivel that the money needed to be returned. However, believing the message was a scam, Manivel transferred $4 million to her Malaysian bank account. In March 2022, police arrested her at Melbourne airport as she attempted to board a one-way flight to Malaysia with $11,000 in cash.
**Court Proceedings**
Singh pleaded guilty to the theft of $6.09 million and appeared in the Victorian County Court for a presentence hearing. His lawyer argued that Singh did not fully understand the gravity of his actions and was unaware that the funds came from a multinational company. Despite this, the prosecution pushed for a jail sentence, emphasizing the opportunistic nature of the crime.
**Manivelâs Charges and Bail**
Manivel faced charges of theft and negligently dealing with the proceeds of crime. She pleaded not guilty but was granted bail with strict conditions after spending over six months in custody. Her bail conditions included surrendering her passport and avoiding any points of departure.
**Sentencing and Recovery Efforts**
The court was informed that most of the money spent in Australia had been recovered, though the $4 million transferred to Malaysia remained outstanding. Crypto.com has launched legal action to recover the remaining funds, but the outcome of these efforts was not disclosed to the court. Manivel was sentenced to 209 days in prison, which was considered time already served, and received an 18-month community corrections order.
**Conclusion**
This case serves as a cautionary tale about the serious consequences of taking advantage of unexpected financial windfalls. It highlights the importance of verifying unexpected gains and understanding the legal implications of spending money that does not belong to you.
