Melbourne Man Jailed After Crypto Spree! – But There’s a Twist
A Melbourne man, Jatinder Singh, 39, was sentenced to three years in prison following an incident where more than $10 million was mistakenly transferred into his then-partner’s bank account by the cryptocurrency platform Crypto.com. The mistake occurred after Singh made a $100 deposit on the platform, only to have a staff member input a bank account number into the funds box, resulting in a $10.4 million transfer.
Singh and his partner, Thevamangari Manivel, initially believed the unexpected windfall was legitimate, with Singh claiming he thought he had won the money. The couple then transferred the funds into their shared account and embarked on a spending spree, which included purchasing properties, transferring $2 million to Malaysia, and gifting $1 million to a friend. Over ten months, they conducted 160 transactions ranging from $5000 to more than $1 million.
The error was only discovered seven months later during an audit by Crypto.com. Both the cryptocurrency platform and the Commonwealth Bank attempted to contact Singh and Manivel to recover the money, but the pair ignored the attempts, suspecting it was a scam.
Singh’s defense highlighted his cognitive challenges, including an “extremely low” IQ, which impaired his ability to foresee the consequences of his actions. Judge Martine Marich acknowledged these cognitive limitations in her sentencing, stating that they weighed more heavily on Singh than they would on others. She noted that his offenses were “opportunistic and poorly considered,” driven by a poor understanding of cryptocurrency and problem-solving limitations.
Singh has already served 361 days in prison and will be eligible for parole after two years. His former partner, Manivel, was jailed for 209 days in 2023 after being caught attempting to board a flight to Malaysia with a one-way ticket. The judge highlighted Singh’s good prospects for rehabilitation, noting that he had not reoffended since being granted bail and had a pro-social lifestyle aside from this incident. However, the conviction will impact his future visa applications as an Indian national.
Crypto.com has since launched civil proceedings against Singh but has not disclosed how much money has been recovered.
