A Melbourne couple who mistakenly received $10.5 million Australian dollars ($6.7 million) in 2021 is set to go on trial in October on theft charges for spending the funds.
Melbourne Couple Faces Trial
As per the report, during a transfer in May 2021, by Thevamanogari Manivel, to her partner Jatinder Singh’s Crypto.com account, the exchange flagged an inconsistency between the bank account and the exchange account.
Consequently, a refund was initiated, but instead of returning the intended 100 AU$ deposit made by the Melbourne couple, the exchange inadvertently credited Manivel’s bank account with a staggering 10.5 million AU$, which remained unknown until December 2021.
Crypto.com Sent 10.5M AU$ to the Melbourne Couple
Following the discovery of the mistaken transfer, the exchange filed a lawsuit in the Victoria Supreme Court.
To which, the judge has now ruled that the funds must be returned to the crypto trading platform.
Reportedly, the couple had acquired four properties, purchased vehicles and various other items, and even transferred approximately 4 million AU$ to a Malaysian bank account.
Sale of Proceeds
One of the properties in question is a five-bedroom residence located in Craigieburn, valued at 1.35 million AU$. The court has ordered the sale of this property with the proceeds to be returned.
During October 2022, the couple, who had recently pleaded guilty, presented an argument in court, claiming they believed they had won a prize from the crypto exchange as they had received a notification prior to the transfer. However, it was protested by compliance officer Michi Chan Fores, who said there was no such notification sent.
Crypto.com’s Expansion Plans
On July 28th, Crypto.com issued an official announcement stating that it has received formal authorization to operate as a provider of cryptocurrency-related services in the Netherlands.
Moreover, during June and December of the previous year, the exchange was granted preliminary approval for a Major Payment Institution License (MAS) by the Monetary Authority of Singapore (MAS) and a Payment Institution License (EMI) by the Banco Central do Brasil, respectively.