‘Breathtaking’ Fraud: Blackrock Ripped Off For $500 Million In Curious Case Of Bankim Brahmbhatt BlackRock’s HPS Investment Partners has written off roughly $150 million after discovering allegedly falsified collateral behind loans to telecom entrepreneur Bankim Brahmbhatt. The financing, arranged with BNP Paribas, was backed by what turned out to be fabricated accounts receivable and forged customer emails, lawsuits show. Brahmbhatt’s companies – Broadband Telecom, Bridgevoice, and Carriox Capital – have filed for bankruptcy; lenders say total exposure exceeds $500 million. BNP Paribas took a €190 million ($220 million) provision for a “specific credit situation,” without naming the borrower. The private-credit… — Continue at ZeroHedge News : Read More
