BlackRock hit with ‘breathtaking’ fraud by Indian-origin telecom entrepreneur Bankim Brahmbhatt: Report
NEW DELHI: HPS Investment Partners, the private-credit unit of BlackRock, and several other global lenders are seeking to recover “hundreds of millions of dollars” after they fell to a “breathtaking” fraud orchestrated by Indian entrepreneur Bankim Brahmbhatt, according to a report by The Wall Street Journal.
Brahmbhatt, the founder of little-known telecom services companies Broadband Telecom and Bridgevoice, has been accused of forging assets and invoices to secure more than $500 million in loans from financiers.
