In a perplexing turn of events, a Melbourne couple is set to face a plea trial in October 2023 on theft charges after inadvertently receiving a windfall of 10.5 million Australian dollars ($6.7 million) in 2021, subsequently spending the erroneous funds.
The saga began in May 2021 when Thevamanogari Manivel initiated a transfer of funds to her partner, Jatinder Singh’s Crypto.com account.
However, an alarm was raised as the bank account details did not align with the exchange account. Consequently, a refund was initiated.
But instead of returning the modest 100 Australian dollars that the couple had intended to deposit, the exchange inexplicably dispatched a staggering 10.5 million Australian dollars to Manivel’s bank account.
The gravity of the error only came to light in December 2021 when the exchange conducted its routine annual audit.
Subsequently, the exchange took legal action by filing a lawsuit in the Victoria Supreme Court, leading to a judgment that mandated the return of the funds to the crypto trading platform.
However, by that point, the couple had embarked on an extravagant spending spree. They reportedly acquired four properties, several vehicles, and assorted items.
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Additionally, approximately 4 million Australian dollars had been transferred to a Malaysian bank account.
Among their acquisitions was a lavish five-bedroom property in Craigieburn valued at 1.35 million Australian dollars, which the court ruled must be sold to facilitate the funds’ return.
In a courtroom twist in October 2022, the couple contended that they believed they had won a prize from the crypto exchange.
Singh claimed to have received a prior notification from the company regarding a competition.
However, Crypto.com’s compliance officer, Michi Chan Fores, categorically refuted the existence of any such competition, asserting that the exchange did not disseminate such notifications to its users.
In a recent development, Manivel, who faced charges of theft, pleaded guilty in September 2023 to recklessly dealing with the proceeds of the crime.
She received a sentence comprising an 18-month community corrections order, including six months of rigorous compliance and unpaid community work, after having spent 209 days in custody.
Meanwhile, Singh is slated to undergo a plea trial on October 23, leaving their fate hanging in the balance as they confront the consequences of their unintended windfall and subsequent expenditures.
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