An Indian-origin Sikh and his accomplice, who accidentally received $140 million from a cryptocurrency company, are facing trial in Australia.
He spent that money on other things including a house of $1.2 million. According to the Canberra Times report, 37-year-old Jatinder Singh and his accomplice Thevamanogri Manivel, 40, appeared via video link from jail at Melbourne Magistrates Court on Tuesday, where they are facing trial on theft and other charges.
Crypto.com intended to return $100 to Manivel, but it was mistakenly transferred $10,474,143. The company came to know of its mistake when it was audited in December 2021.
A subsequent investigation found that an employee in Bulgaria, who processed the refund in May 2021, had incorrectly entered $140 million into an Excel spreadsheet.
The Melbourne Magistrates’ Court was told that even though the crypto.com account was in Singh’s name, it was sent to Manivel’s account because he had used his bank card to buy cryptocurrencies.
Singh reportedly thought he had won money after a notification was sent from the Crypto.com app about a contest. He also said the same thing to Manivel, a Malaysian citizen.
According to a report in The Age, the investigation revealed that $4 million was allegedly transferred to an offshore bank account, including a $1.2 million home in Craigieburn and three other properties, a car, art, furniture. And more than $1 million was spent on other items, including gifts to friends in Melbourne.
Manivel, currently out on bail, was arrested at Melbourne airport in March 2022 while allegedly trying to fly to Malaysia on a one-way ticket with around $11,000 in cash.
The couple will face a directions hearing in county court on November 8.