PITTSBURGH — All charges were dropped against a man accused of setting up a company with a similar name and then stealing customers.
Prosecutors withdrew all charges against Santhosh Madhavan after he reached a civil agreement with his former employer, Indocarb.
Based in India, the company makes carbon to treat water.
Madhavan was accused of creating a similar company in Pittsburgh and stealing $11 million. His attorney claimed it was all lawful competition with a former business partner.
The District Attorney’s Office said that as part of the settlement, Indocarb agreed not to pursue criminal charges.
Madhavan’s attorney, Joe Valenti, sent Channel 11 a statement:
“As I previously indicated, Mr. Madhavan fully cooperated with the authorities. Criminal charges alleging an $11,000,000 theft were always unfounded. After confidential consideration of all relevant facts and circumstances, withdrawal of criminal charges in favor of deference to the civil-litigation process was deemed appropriate.”
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