Satish Vuppalapati Involved in $18 Million Business Fraud

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Satish Vuppalapati, Prithvi Solutions and its affiliates partners were involved in frauding Kyko Global Inc Canadian Company for $17 million.

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Satish Vuppalapati Involved in $18 Million Business Fraud

  1. 1. Satish Vuppalapati Involved in $18 Million Business Fraud Satish Vuppalapati is co-founder & MD of Prithvi Information Solutions Pvt Ltd and brother of Madhavi Vuppalapati. He co-founded Prithvi Information Solutions Pvt Ltd in 1998 with Madhavi and they took the company public in 2005. He completed his education from Hyderabad, India and he holds a BE degree in Production Engineering from Osmania University. Involvement in Business Fraud: He is one of the key members in Prithvi fraud case. Along with Madhavi and other partners of the company he was involved in frauding Kyko Global Canadian Company for $17 million. Satish and its affiliates have been involved in a conspiracy to create fictitious, counterfeit customers and associated accounts so as to induce Kyko Global, Inc. and Kyko Global GMBH (plaintiffs in the case) into advancing over US $17 million in funds or purchasing sham receivables, running up to over tens of millions of dollars. On 6th September 2013 United States District Court in Seattle, Washington entered a judgment against Satish Vuppalapati and its affiliates & ordered to pay US $17 to Kyko Global, Inc plus legal fees and other charges. On 19-7-2013 he signed an Affidavit and Acknowledgement stating that he is liable for paying the debt to Kyko Global amounted $18,000,000.00 plus legal fees, costs, and interest calculated weekly on the total amount at the rate of 2.45% per month, the copy of affidavit can be found here.

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