$500 million fraud
Indian-Origin Telecom CEO Bankim Brahmbhatt Faces $500 Million Fraud Allegations in BlackRock Loan Scheme
Nov 01, 2025 04:49 pm CST
Bankim Brahmbhatt, CEO of Bankai Group, stands accused of orchestrating a $500 million loan fraud scheme targeting BlackRock's private-credit arm and other lenders. The lawsuit alleges fabricated invoices and offshore transfers to India and Mauritius, while Brahmbhatt's companies have filed for bankruptcy. His lawyer denies all allegations.
Indian-Origin CEO Orchestrates $500 Million Fraud Against BlackRock: Inside the "Breathtaking" Financial Scheme
Nov 01, 2025 12:11 am CST
BlackRock's private-credit arm and major lenders are struggling to recover over $500 million lost in an elaborate fraud allegedly perpetrated by Indian-origin telecom executive Bankim Brahmbhatt. The scheme involved fabricated invoices, fake customer communications, and offshore money transfers to India and Mauritius, with Brahmbhatt's companies creating an illusion of financial health while securing massive loans from HPS Investment Partners and BNP Paribas.