Indian gets 10 million in account by mistake, gifts 1 million to friend

Jatinder Singh, a 39-year-old Indian national, has been sentenced to three years in prison in Australia for spending over 6 million Australian dollars (AUD) that was accidentally transferred into his bank account. The money was meant to be a AUD100 refund from cryptocurrency platform, Crypto.com, but due to an accounting error, more than 10.4 million was sent to his partner Thevamangari Manivel’s account. Singh’s spending spree lasted 10 months, involving 160 transactions, including buying two properties and gifting 1 million to a friend.

The error occurred in May 2021 when Singh deposited 100 Australian dollars into Manivel’s account on Crypto.com. Due to a discrepancy in account names, the refund process went wrong, leading to the massive transfer.

Singh instructed Manivel to move the funds from her Commonwealth Bank account to their joint account before the error could be corrected.

SINGH MISTOOK MONEY AS JACKPOT FROM CRYPTO PLATFORM

The cryptocurrency platform discovered the mistake during an audit seven months later.

Despite attempts by Crypto.com and the Commonwealth Bank to recover the money, Singh and Manivel ignored their efforts, believing it to be a scam, reported The Canberra Times.

By this time, they had already spent the money, including buying two properties and gifting AUD$1 million to a friend. Manivel also transferred AUD2 million to a bank account in Malaysia.

Singh was arrested in March 2022 and charged with theft after telling police he thought the money was a “winning something” from Crypto.com.

Judge Martine Marich noted Singh’s cognitive challenges, including an “extremely low” IQ, which impaired his ability to understand the consequences of his actions.

“Cognitive limitations and challenges in navigating social rules weigh more heavily on you than it would for others,” Judge Marich said.

She described Singh’s actions as an “opportunistic and poorly considered series of acts”, stemming from a poor understanding of cryptocurrency trading and limited problem-solving abilities.

BULLIED IN REMAND, MENTAL HEALTH OF INDIAN WORSENS

Singh’s difficult time on remand, which included racial bullying, worsened his mental health, causing anxiety, depression, and suicidal thoughts.

The media coverage of his case further heightened his fears, with Judge Marich noting his apprehension about community judgement and his parents finding out.

“(You were afraid) of others in the Punjab community judging and gossiping about you and fear that your parents will learn of your offending,” the judge said.

Despite these challenges, Judge Marich acknowledged Singh’s good prospects for rehabilitation.

Singh will be eligible for parole after serving two years, having already spent 361 days in prison. The judge also noted that a conviction could impact future visa applications.

Singh’s former partner, Manivel, was jailed for 209 days in 2023 after being arrested while attempting to board a flight to Malaysia with a one-way ticket.

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