Brief by Shorts91 Newsdesk / 07:30pm on 31 Oct 2025,Friday India Global
Indian-origin US telecom entrepreneur Bankim Brahmbhatt faces accusations of orchestrating a $500 million loan fraud involving BlackRock-backed HPS Investment Partners. Brahmbhatt, owner of Broadband Telecom and Bridgevoice, allegedly created fake customer accounts and receivables to secure massive loans from American lenders, including BNP Paribas-partnered financing. Lenders filed an August lawsuit claiming he pledged non-existent revenue streams as collateral. HPS's exposure grew from $385 million (early 2021) to $430 million (August 2024), with BNP Paribas funding nearly half. Brahmbhatt filed personal bankruptcy on August 12, simultaneously with his companies' Chapter 11 protection. His Garden City office appears vacated, and investigators fear he fled to India, though his lawyer denies all allegations.
