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  • Guru Pandyar Involved In $18 Million Business Fraud

    Guru PandyarGuru Pandyar (Prasad Rao Pandyar Guru) Involved in $18 million business fraud along with other partners including, Madhavi Vuppalapati, Arundathi Pandyar, Srinivas Sista, Lalita Sista.

    Guru Pandyar (Prasad Rao Pandyar Guru) was born in Hyderabad. He completed his bachelor's degree in commerce from Osmania University in the year 1992 - 1996. He completed his MBA in International & Corporate Finance Management from National Institute of Management in year 2008 - 2009.

    He started working as an Articles Associate MGRK ASSOCIATES in Hyderabad from 1997 to 1999, his next job was with Prithvi Information Solutions as aSr Manager - Finance & Accounts from July 1999 till October 2010 (11 years 4 months) later on he was promoted as AVP Operations and accounts in the same company.

    Involvement in Fraud: Guru Pandyar (Prasad Rao Pandyar Guru) and Madhavi Vuppalapati are business partners in Prithvi Information Solutions. Recently both were involved in a multimillion dollar business fraud in which Kyko Global Inc, a Canadian company is seeking $18 million from Prithvi Info Solutions. Prithvi is alleged to have falsified information for over two years, thereby defrauding Kyko. Madhavi Vuppalapati and Guru Pandyar created made up customers and fake invoices to mislead Kyko and obtain moneys from it. Kyko filed a lawsuit on 16 June 2013 against Prithvi Info Solutions at US District court in Seattle. In the lawsuit kyko alleged that in order to further secure the amounts owned by Kyko, Madhavi, Pandyar and his partner agreed on behalf of their various affiliated companies of Prithvi Info Solutions to enter into a cross-guarantee promising to pay on demand in full amounts owned by Kyko. Madhavi Vuppalapati, Guru Pandyar and his wife, their affiliated companies and other partners signed this cross guarantee. Each of these cross-guarantors promised on a joint and several basis, to guarantee the obligations of each debtor to Kyko in respect to the payments of all the accounts receivable by each debtor.

    The Canadian company also alleged that the cross-guarantees was, yet another components of fraudulent scheme, with an attempt to conceal the scheme and ultimate truth of the scam.

    Earlier in April 2014, following directions from a US District Court to recover money, the Sheriff from King County auctioned personal assets of Madhavi Vuppalapati, founder of Prithvi Info, to recover $17 million.

    Recently Guru Pandyar and his wife Arundhati filed bankruptcy on 17th June before the Western District of Washington. In most cases, the filing of the bankruptcy stays automatically stays certain collection and other actions against the debtor and the debtor's property.

    Jun 30 9:00 AM | Link | Comment!
  • Madhavi Vuppalapati Involved In Multimillion Dollar Business Fraud

    Madhavi Vuppalapati Involved In Multimillion Dollar Business Fraud

    About Madhavi Vuppalapati: She was born in Andhra Pradesh, India 23 March 1972. She founded Prithvi Information Solutions Pvt Ltd in 1998 along with her brother Satish Vuppalapati and took the company public in 2005. She is married and have a child and lives in Seattle, Washington. Holding a graduate degree from Carnegie Mellon University in Pittsburgh and a Masters in Computational Mechanics. She is the only female CEO amongst the top 50 Indian IT and telecom services companies.

    Involvement in Business Fraud: Madhavi, Prithvi Information Solutions and its affiliates had 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 judgement against Madhavi Vuppalapati and its affiliates & ordered to pay US $17 to Kyko Global, Inc


    Mar 25 8:51 AM | Link | Comment!
  • One Simple Measure For Investing In A Volatile Market

    Volatility has been edging higher since the end of 2012, but so far, the stock market has held up pretty well.

    Take a look at the chart below of the CBOE Volatility Index (VIX), also known as the "Fear Factor Index," based on the S&P 500 Index. The VIX reading is holding around 16.8-well below some of its high readings since 1990, as shown on the chart. When the VIX is low, it suggests traders are relaxed and not concerned about the current stock market climate; but you need to remain alert, because investor mistakes occur when people are too confident.

    The chart shows the inverse relationship between the VIX, shown by the red candlesticks, and the S&P 500, reflected by the green line, since 2002.

    Continue Reading: One Simple Measure For Investing In A Volatile Market

    Jun 18 3:08 AM | Link | Comment!
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