American investment company BlackRock reported to have fallen prey to a multi-million-dollar 'breathtaking' fraud allegedly orchestrated by Bankim Brahmbhatt, the Indian-origin CEO of a US-based telecom company, Broadband Telecom and Bridgevoice. The Wall Street Journal reported that lenders have accused Brahmbhatt's company of fabricating accounts receivable that were supposed to be used as loan collateral and now the CEO's companies owe them more than $500 million. Brahmbhatt's lawyer told Journal that the CEO disputed the fraud allegations. HPS, the private credit card investment arm of BlackRock, began lending to at least one financing arm affiliated with Brahmbhatt’s telecom companies in September 2020. HPS increased the size of its debt investment to around $385 million in early

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