Brief by Shorts91 Newsdesk / 05:35am on 01 Nov 2025,Saturday India Global
Bankim Brahmbhatt, an Indian-origin CEO of U.S.-based telecom companies, has been accused of masterminding a massive $500 million loan fraud that deceived BlackRock’s private credit unit and several global banks. The lawsuit alleges that Brahmbhatt’s firms used fake invoices, forged contracts, and fabricated customer data to secure multimillion-dollar loans. The scam came to light in July 2025, when auditors uncovered fake email domains and non-existent clients. Following the exposure, Brahmbhatt reportedly stopped communicating with lenders and abandoned company offices, leaving financial institutions scrambling to recover the huge losses. (PC: NDTV)
