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.
>>>RELATED: Man accused of stealing $11 million from his local employer by creating business with similar name
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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