{"content":"⚠️ GLOBAL FINANCE SHOCKWAVE! BlackRock Loses $500 Million in Alleged 'Breathtaking' Scam ​The global financial community is reeling from the news that BlackRock's private credit arm and co-lenders are seeking to recover over $500 million in what they describe as a "breathtaking" fraud. The alleged mastermind is Bankim Brahmbhatt, the Indian-origin CEO of US-based telecom companies, who is accused of orchestrating a high-level deception. ​The scam centered on asset-based lending, where Brahmbhatt's firms allegedly fabricated accounts receivable and customer invoices, using them as collateral to secure massive loans from lenders like BlackRock’s HPS Investment Partners. Court filings suggest every customer email provided to verify invoices was a fake, with some domains mimicking legitimate telecom giants. ​Lenders filed a lawsuit in August, claiming Brahmbhatt's companies owe them more than $500 million. Following the discovery of irregularities, Brahmbhatt reportedly stopped responding to calls and his New York offices were found deserted. Lenders believe he may have transferred assets offshore to India and Mauritius before the collapse. ​This case has shone a harsh light on the private-credit market, which operates with limited transparency, raising critical questions about due diligence standards for multi-million dollar deals. ​Would you like to explore the potential long-term consequences of this alleged fraud on the private credit market?","images":["https://d35imkjvkj28kt.cloudfront.net/uploadfile/article/blog/2025112025/11/04/e1ceac7dc8004ac08b3e041dc681e963.jpg"],"tags":[],"tradingPairs":[],"quotearticleid":0}