Jatinder Singh and his partner bought four houses, cars, artwork and other luxurious items with money they received due to an accounting error by Crypto.com, according to the Guardian.
Jatinder Singh will attend a plea hearing on Oct. 23 at the County Court of Victoria in Australia for failing to report that he received AUSD 10.47 million from Crypto.com in 2021. Singh used the money –sent to him because of an accounting error – to buy four houses, cars, art, furniture and other things, The Guardian reported.The accounting error occurred when a Crypto.
Singh attempted to transfer funds into a Crypto.com account in 2020, using the bank account of his partner, Thevamanogari Manivel. However, the company rejected the payment and attempted to refund Singh roughly AUSD 64 because the name on the bank account did not match the name on the Crypto.com account.
Singh discovered he had been overpaid the day after receiving the millions of dollars from Crypto.com. After becoming aware of the error, he instructed his partner to transfer much of the funds to a joint Westpac account, and transferred AUSD 4 million to a bank account in Malaysia, The Guardian reported.
Manivel received an 18-month sentence after pleading guilty to theft. It remains unclear whether or not Singh intends to plead guilty.
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