Personal property of Madhavi Vuppalapati and Anandhan Jayaramanto be auctioned to satisfy a judgment obtained by Kyko Global Inc. in a case of Alleged Fraud.
Madhavi Vuppalapati and her husband, Anandhan Jayaraman and seized their personal property. The seizure comes on the heels of a judgment granted on September 6, 2013, pursuant to Court File No. 13-CV-1034, against the following parties in an alleged fraud case for almost $18 million payable to Canada-based Kyko Global Inc.: Madhavi Vuppalapati, Anandhan Jayaraman, Prasad Rao Guru and Arundathi Pandyar, Srinivas and Jane Doe Sista, all of Bellevue-WA, and Prithvi Information Solutions Ltd., Inalytix Inc., International Business Solutions Inc., Avani Investments, Ananya Capital Inc., and others.— On February 12, 2014, the King county sheriff entered the home of
According to the Notice of Sale, the sheriff is scheduled to auction off Ms. Vuppalapati’s personal property on April 24, 2014. The property includes jewellery, certain household items and a 2006 Lexus RX4005D. All proceeds will be used to partially satisfy KykoGlobal’s judgment against Ms. Vuppalapati.
Kyko Global commenced proceedings against Ms.Vuppalapati, her husband Anandhan Jayaraman, Prasad Rao Guru Pandyar, Srinivas Sista, Prithvi Information Solutions Ltd. and several other individuals and companies, making allegations under the Racketeer Influenced and Corrupt Organizations Act (RICO) and of financial fraud, mail fraud and wire fraud. According to Kyko Global’s Complaint, Prithvi Information Solutions entered into an agreement with Kyko Global for factoring services. Pursuant to this agreement, Prithvi was to sell to Kyko some of its customer account receivables for IT services and authorize direct payment on those customer accounts receivable to be made to Kyko in exchange for a portion of the amount outstanding from its customers to be paid immediately by Kyko.
Prithvi is alleged to have falsified information for over two years, thereby defrauding Kyko. According to court documents, the internal investigation revealed that Madhavi Vuppalapati and Prithvi Information Solutions had “created fictitious customers and bogus invoices to deceive Kyko and obtain monies from it.” These court documents list out some of the companies that were falsely misrepresented, including big names in business such as Dick’s Sporting Goods, Enterprise Product Partners, Financial Oxygen, Huawei, and L3 Communications.
Name: Kiran Kulkarni
Organization: Kyko Global Inc
Address: Two Finley Road Brampton, Ontario, Canada L6T 1A9
For more information, please visit http://www.kykoglobal.com/
Release ID: 41180