Indian telecom player Bankim Brahmbhatt bunks US after $ 500 million rip

The TOI correspondent from Washington: With two BMWs, a Porsche, a Tesla, and an Audi gathering dust in the driveway and unopened mail at the door of his New York Mcmansion, Bankim Brahmbhatt is said to be on the lam, having allegedly scammed the private credit arm of Blackrock, the world’s largest asset manager, and others, of $ 500 million. In a financial scandal that has rocked the US private credit market, the Indian-origin entrepreneur and founder-CEO of US-based telecom firms Broadband Telecom and Bridgevoice (under the Bankai Group), is accused of orchestrating a massive fraud using phony accounts and fabricated emails to secure asset-based financing from heavyweights like Blackrock subsidiary HPS Investment Partners and BNP Paribas. The deception, first reported in the Wall St