3 hours ago
Last Updated:November 01, 2025, 09:29 IST
Bankim Brahmbhatt, owner of Broadband Telecom and Bridgevoice, faces fraud allegations over $500 million, with BlackRock and HPS Investment Partners among affected lenders.
The lenders' lawsuit claims Brahmbhatt's companies owe more than $500 million, the WSJ reported. (X)
Bankim Brahmbhatt, an Indian-origin entrepreneur and owner of US-based Broadband Telecom and Bridgevoice, is at the centre of a massive alleged fraud that lenders have described as “breathtaking," leaving BlackRock’s private-credit arm and other investors scrambling to recover more than $500 million, according to a Wall Street Journal report.
Brahmbhatt is accused of fabricating accounts receivable that were used as collateral to secure large loans. Lenders allege he built a web of financing vehicles—including Carriox Capital and BB Capital SPV—to raise hundreds of millions of dollars from private-credit investors led by HPS Investment Partners, a major lending platform recently acquired by BlackRock.
Very little public information is available about Brahmbhatt. His LinkedIn profile appears to have been deleted. His two companies belong to the Bankai Group, which previously identified him on X as its president and CEO.
Bankai Group describes itself as a global telecom solutions provider offering connectivity and infrastructure services to operators worldwide. Until recently, Brahmbhatt maintained offices in Garden City, New York, but the premises were found closed and locked in July, the report said.
According to lenders, their investigation uncovered fabricated invoices, fake customer emails from the past two years, and forged contracts dating back to 2018. They also allege Brahmbhatt transferred pledged assets offshore to India and Mauritius.
“Brahmbhatt created an elaborate balance sheet of assets that existed only on paper," the WSJ letter quoted attorneys for the lenders writing in the complaint.
His lawyer has disputed all allegations of fraud.
Brahmbhatt’s companies filed for bankruptcy in August, followed by Carriox Capital II and BB Capital SPV. He filed for personal bankruptcy on August 12, the same day his firms entered Chapter 11. People familiar with the matter told the WSJ that lenders believe he is currently in India.
BNP Paribas, which helped finance some of the loans, has not commented on the case.
Manisha Roy is a Senior Sub-Editor at News18.com's general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18...Read More
Manisha Roy is a Senior Sub-Editor at News18.com's general desk. She comes with an experience of over 5 years in media industry. She covers politics and other hard news. She can be contacted at Manisha.Roy@nw18...
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Washington D.C., United States of America (USA)
First Published:
November 01, 2025, 09:29 IST
News world Who Is Bankim Brahmbhatt? Indian-Origin Entrepreneur Accused Of $500-Million Fraud In US
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