5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

MADHAVI VUPPALAPATI ANDPRITHVI INFORMATIONSOLUTIONS INVOLVED IN 18MILLION FRAUD

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

Involvement in Business Fraud

On June 17, 2013, Kyko GlobalGMBH and KykoGlobal Inc, filed a Fraud or Truth-In-Lending suitagainst Prithvi Information Solutions in the Seattleoffice of Washington Western District Court. Accordingto the plaintiffs, Madhavi Vuppalapatiscompany,Prithvi Information Solutions, and its affiliates hadcreated fictitious, counterfeit customersto get anadvance payment of $17 million from Kyko Global Inc.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

The court arrived at a judgment in September 2013and ordered Prithvi Information Solutions to pay$17,568,854 plus $796,776as additional damages for

the fraud. Keeping in view Madhavi Vuppalapatisinvolvement in the business fraud, her assets andproperty have been seized by the Sheriff King County.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

The FraudIn November 2011, Kyko Global, an Ontario-basedcompany, entered into an agreement with PrithviInformation Solutions for certain factoring services.According to the agreement, Prithvi InformationSolution had to identify certain of its customer accountreceivable for IT services and authorize direct paymenton those customer accounts receivable to be made toKyko in exchange for a portion of the amountoutstanding from its customers to be paid immediatelyby Kyko. Prithvi Information Solutions offered to Kykoaccount receivables for the following major customers,Dicks Sporting Goods, Enterprise Product Partners,

Financial Oxygen, Huawei, L3 Communications.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

However, the reality was that none of thesecompanies had any current business relationship

with Prithvi Information Solutions. When Kyko triedto acknowledge that these clients will make paymentsdirectly to Kyko, they got verifications, but in reality, itwas the associates of Prithvi Information Solutions that

had posed as clients and created and executed theverifications. When Kyko requested MadhaviVuppalapati that they be put in touch directly with therepresentatives of the five clients, she turned down the

request saying that it will be detrimental to theirrelationships with these clients.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

The Vicious Circle of Deceit

Over a period of around two years, MadhaviVuppalapati and her associates continuouslydeceived the unsuspecting Kyko, in the process,

coming up with one excuse or the other to keep themin the dark. Finally, while attempting to collectoutstanding dues, Kyko came to know, through its owninternal investigation that Prithvi Information Solutionshad created fictitious customers to deceive Kyko andextract more monies from it

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

In order to get its money back, Kyko filed a lawsuiton 17thof June against Prithvi InformationSolutions at the United States District Court,

Western District of Washington at Seattle.

On August 8, 2013, Kyko moved the court for issuanceof judgment in amount against defendants pursuant to

confession of judgment and the motion was granted bythe court.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

Jury Enters a Judgment

On September 6, 2013, the jury entered a judgmentagainst Prithvi Information Solutions in the amountof $17,568,854 plus prejudgment interest accruing at

the rate agreed to between the parties at 2.45% permonth in the total amount of $796,776.

On September 2013, Kyko filed a Writ of Garnishment

against Prithvi Information Solutions. Kyko claimeddamages to the tune of $18,431,765,90 inclusive ofbalance of judgment, prejudgment interest, andinterest of judgment from 9thJune, 2013 to September

23rd

, 2013.

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud

Seize & Auction of MadhaviVuppalapatisPersonal Property

On February 12, 2014, a court notice was sent toMadhavi Vuppalapati. According to the notice, theSheriff was directed to auction and sell her personalassets including 2006 Lexus RX4005D car and herjewelry and miscellaneous household items.

The auction wad held on 20thMarch 2014 at Bellevue,WA

5/27/2018 Madhavi Vuppalapati and Prithvi Information Solutions Involved in Million Fraud