Indian National Jailed for Failing to Return Mistakenly Transferred Funds

Periyasamy Mathiyazhagan, an Indian national, was sentenced to nine weeks in jail by a Singapore court after failing to return SGD 25,000 mistakenly transferred to his bank account. Despite knowing the funds did not belong to him, he used them to pay off debts and remit some to his family in India.

In a case highlighting accountability, a Singapore court has sentenced Periyasamy Mathiyazhagan, a 47-year-old Indian national, to nine weeks of imprisonment for not returning SGD 25,000 mistakenly credited to his bank account.

The incident began when an employer's administrator erroneously transferred the sum, mistaking it for the company's bank account instead of Periyasamy's. Despite being notified of the error, Periyasamy utilized the funds for personal debt repayment and family remittances.

Legal proceedings revealed efforts by Periyasamy's employer and the bank to recover the money, all proving unsuccessful. Periyasamy acknowledged awareness of the error but moved the funds across different accounts. With no restitution made, he requested a repayment plan, which remains unresolved.

(With inputs from agencies.)