When a crypto business unintentionally delivered an Australian woman $10,474,143, she immediately went on a spending binge.
When Thevamanogari Manivel received the funds in her bank account in 2021, the incident took place. She went shopping instead of reporting it to the police.
Before Crypto.com identified the error in December of that year, she spent virtually the full sum.
After a cryptocurrency company unintentionally sent her almost $10.4 million, the woman went on a shopping binge.
Manivel was unable to return the money because, after it was transferred to a joint account she held with her sister Thilagavathy Gangadory, she had used the money to buy a house in Melbourne for AUD$1.35 million.
The court heard four houses had been purchased with the ill-gotten cash – all of which had been frozen by the Supreme Court as part of ongoing civil action launched there by Crypto.com.
Senior Constable Healy alleged $8million had been transferred from Manivel’s account between December 24, 2021, and February 2022.
Of that, $1.2million was used to buy a luxury home in Craigieburn and a $56,000 deposit went on a home in Mickleham.
Police allege Manivel lavished gifts on her daughters, giving $500,000 to one, $430,000 to another and $200,000 to a third daughter.
Another $70,000 was used to buy her daughter in Melbourne a car and $1.2million gifted to her partner Jatinder Singh’s friend to pay off his mortgage on a Mickleham property.
The rest was allegedly blown on furniture, art, and other luxury items.
Manivel was recently ordered to sell her home and repay the funds with interest after Crypto.com won its legal case against her.
According to UNILAD, Justice James Dudley Elliot said during the ruling that evidence showed Manivel purchased her home through stolen funds.
“It is established that the Craigieburn property was acquired with funds traceable to the wrongful payment and would never have been in Gangadory’s hands if the wrongful payment had not been made. Thus, Gangadory was unjustly enriched by receiving the purchase price of the Craigieburn property out of the wrongful payment. Accordingly, I was satisfied that the orders relating to the sale of the Craigieburn property were appropriate.”
In a report by CNBC, Crypto.com was originally supposed to send Manivel AUD$68 but sent the millions in error.
The lawsuit was filed in 2022, and local authorities froze her assets.
Crypto transactions are not reversible, but centralized platforms can attempt to reverse payments if fraud or human error occurs.