Indian citizen jailed for failing to return wrongly transferred funds

In a case highlighting liability, a Singapore court sentenced Periyasamy Mathiyazhagan, a 47-year-old Indian national, to nine weeks in prison for failing to return the SGD25,000 wrongly credited to his bank account.

The incident started when an employer’s administrator mistakenly transferred the amount thinking it was the company’s bank account instead of Periyasamy’s. Despite being informed of the error, Periyasamy used the money to repay personal debts and family remittances.

Legal proceedings revealed attempts by Periyasamy’s employer and the bank to recover the money, but all proved unsuccessful. Periyasamy acknowledged that he was aware of the mistake but moved the money to different accounts. Since no refund was made, he requested a refund plan, which is still unresolved.

(With input from agencies.)