Who is Bankim Brahmbhatt? Indian-Origin Businessman Accused of a ‘Breathtaking’ $500 Million BlackRock Loan Fraud

By Admin

01 Nov, 2025

In what is being described as one of the most “breathtaking” financial frauds in recent times, Bankim Brahmbhatt, an Indian-origin businessman, has been accused of defrauding BlackRock’s private-credit arm and several other lenders of more than $500 million. The case, which has sent shockwaves through the global investment and telecom industries, involves a complex web of fabricated accounts, fake invoices, and allegedly fraudulent financing activities.

The Alleged $500 Million Fraud

According to a Wall Street Journal (WSJ) report, BlackRock’s private-credit arm and other lenders are now scrambling to recover the hundreds of millions of dollars they allegedly lost due to Brahmbhatt’s actions. Lenders claim that Brahmbhatt fabricated customer invoices and accounts receivable, which were then used as collateral to secure massive loans from private-credit investors led by BlackRock’s HPS Investment Partners, a private-credit giant that was recently acquired by BlackRock.

The fraudulent scheme allegedly involved multiple financing vehicles   including Carriox Capital and BB Capital SPV   through which Brahmbhatt reportedly borrowed hundreds of millions of dollars. The lenders assert that he later moved assets offshore to India and Mauritius, while both his companies and he himself filed for bankruptcy.

Who is Bankim Brahmbhatt?

Bankim Brahmbhatt is known as the owner of Broadband Telecom and Bridgevoice, two relatively obscure companies in the global telecom-services industry. Both entities belong to the Bankai Group, which has described itself as a “globally recognized leader in the telecommunications industry, cherishing telecom technology and carrier business fraternity with Telcos, Operators & more.”

According to information available before the scandal broke, Brahmbhatt’s businesses provided infrastructure and connectivity solutions to telecom operators worldwide. His companies reportedly maintained offices in Garden City, New York, until recently. However, after the fraud came to light, his LinkedIn profile was deleted, and his office premises were found locked and vacant.

Where is Bankim Brahmbhatt Now?

People familiar with the case told WSJ that lenders believe Brahmbhatt is currently in India. When investigators and HPS representatives visited his Garden City office in July, they found the premises closed and seemingly abandoned.

At his nearby residence, several luxury cars   including two BMWs, a Porsche, a Tesla, and an Audi   were seen parked in the driveway, hinting at a once-prosperous lifestyle. A dust-covered package was also spotted outside, suggesting the property had been unused for some time.

The Investigation and Legal Dispute

The lenders, including BNP Paribas   which reportedly helped finance the loans issued by HPS   have uncovered evidence suggesting that every customer email and contract submitted by Brahmbhatt since 2018 was fabricated. The complaint states, “Brahmbhatt created an elaborate balance sheet of assets that existed only on paper.”

His companies   including Broadband Telecom, Bridgevoice, Carriox Capital II, and BB Capital SPV   all filed for bankruptcy between August and mid-August 2025, with Brahmbhatt himself filing for personal bankruptcy on August 12. Despite the mounting evidence, his lawyer has disputed the fraud allegations, claiming the lenders’ narrative is misleading.

Conclusion

The Bankim Brahmbhatt case represents a significant moment in global financial oversight, exposing vulnerabilities in the private-credit lending ecosystem. With BlackRock and BNP Paribas now entangled in efforts to recover their losses, the full extent of this alleged fraud remains under investigation.

Whether Brahmbhatt’s actions stemmed from a desperate financial gamble or deliberate deceit, the case underscores the importance of due diligence, transparency, and stricter monitoring in the global finance and telecom sectors.