Jatinder Singh, the 37-year-old partner of Thevamanogari Manivel, a Melbourne woman who mistakenly received $10.5 million instead of a $100 refund from digital asset exchange Crypto.com, has been granted bail by the County Court in Victory.
Although lead agent Conor Healy argued that approximately $7 million had been recovered and that Singh could flee with the outstanding balance, Judge Daniel Holding insisted when granting bail.
Court grants Singh bail
Let us remember that an employee of the Singapore stock exchange accidentally sent the money to Manivel’s bank account while a $100 refund for Singh’s crypto transaction was being processed. Although the incident occurred in May 2021, Crypto.com discovered it seven months later during an audit in December.
The exchange then contacted Manivel in February 2022 to request a refund. However, he had already moved $10.1 million into a joint account with Singh. The woman also bought a luxurious $1.35 million five-bedroom house in Craigieburn for her sister and spent a significant sum on art, gifts, vehicles and furniture.
Eventually, Manivel transferred $4 million to an offshore account in his name and $1 million to an account in Singh’s name.
As crypto potato reported In August, Crypto.com launched a legal battle against Manivel, seeking a return of the funds spent. During the court hearing, Manivel claimed that Singh told him that he won the money in a Crypto.com contest, so he did not return the funds.
Both Manivel and Singh have pleaded not guilty to various charges brought against them, with the former bailing out at the jail hearing while the latter remained in custody.
Judge says Singh can’t flee Australia
While authorities recovered $7.3 million, $3.1 million remains outstanding, with $2.2 million still in the offshore account.
Despite opposition from Constable Healy and Prosecutor Peter Botros, who argued that it was easier for Singh to flee Australia as he had no job, stable residence or family prior to his arrest, the judge ruled in favor of bail.
Judge Holding insisted that Singh could not flee the country as the bail conditions would require him to surrender his passport.
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