Australian Jailed After Spending Millions From Accidental Crypto.com Refund - Decrypt
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Australian Jailed After Spending Millions From Accidental Crypto.com Refund
Jatinder Singh, 39, was jailed for three years after pleading guilty to the theft of $4.4 million after an erroneous Crypto.com refund. An Australian man whose partner was accidentally refunded millions of dollars by Crypto.
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Summary
- 💸 **Accidental Refund**: Jatinder Singh, 39, was jailed for three years after spending $4.4 million from an erroneous refund by Crypto.com.
- 🏦 **The Mistake**: In May 2021, a staff error led to Singh's partner receiving AU$10.47 million instead of a $65 deposit.
- 🛍️ **Spending Spree**: The couple spent much of the money on luxury items, real estate, and even gifted AU$1 million to a friend.
- 🚨 **Arrests**: Manivel was arrested while trying to flee to Malaysia, and Singh claimed he thought he had won the money in a raffle.
- ⚖️ **Sentencing**: Singh received a three-year sentence, eligible for parole after two years, while Manivel was sentenced to 209 days, already served.
Top Highlights
- Australian Jailed After Spending Millions From Accidental Crypto.com Refund Jatinder Singh, 39, was jailed for three years after pleading guilty to the theft of $4.4 million after an erroneous Crypto.com refund.
- An Australian man whose partner was accidentally refunded millions of dollars by Crypto.com has been jailed after embarking on a "flurry" of spending. Jatinder Singh, 39, has been sentenced to serve three years in jail by the County Court of Victoria after pleading guilty to the theft of $4.4 million, per reports in local news media. In May 2021,...
- The crypto exchange rejected the deposit owing to the name discrepancy between the exchange and bank account, but a "significant accounting mistake" saw a staff member accidentally typed Manivel's account number into the spreadsheet field for the value of the refund—resulting in her being sent AU$10.47 million (around $6.8 million).
- Singh then had Manivel transfer the funds to the couple's joint account in a bid to avoid the transaction being reversed, after which they embarked on a "flurry" of spending during which Manivel transferred AU$4 million to her bank account in Malaysia. An internal audit uncovered the error seven months later, by which time Singh and Manivel had al...
- Crypto.com and Commonwealth Bank repeatedly attempted to contact the couple, who later claimed that they thought the exchange's efforts at outreach were scam attempts. Manivel was arrested attempting to board a one-way flight to Malaysia in March 2022, while Singh was arrested later that month, claiming he "honestly believed" that he had won the m...
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