Indian-origin industrialist Bankim Brahmbhatt, who is the founder and CEO of Bankai Group, has been accused of a major financial scam (loan fraud) of about $500 million (approximately ₹4,400 crore) in the US. BlackRock, the world’s largest asset management company, its lending unit HPS Investment Partners, and other banks like BNP Paribas have accused Brahmbhatt and his telecom companies — Broadband Telecom and Bridgevoice — of obtaining loans through fake customer invoices, false accounts receivable and false documents. According to the complaint filed in the US court, the fraud was so large that it has been described as “breathtaking”. It is alleged that the companies transferred the loan amount to India and Mauritius and later filed for bankruptcy in August 2025. Soon after this, Bankim Brahmbhatt also applied for personal bankruptcy. Brahmbhatt has denied the allegations, but the case highlights the risks and lack of transparency in private credit markets. This incident shows how big investors and banks can face losses worth billions of rupees relying on fake documents.

The world’s largest investment company BlackRock was defrauded of about 500 million dollars (about Rs 4,200 crore) by an Indian businessman. Bankim Brahmbhatt, CEO of America’s Broadband Telecom and Bridgevoice, has been accused of fraud. They kept obtaining loans by making fake bills through their companies. BlackRock’s private credit unit HPS Investment Partners is now trying to recover the money.

Funds transferred to India-Mauritius accounts

According to the report of Wall Street Journal, loans were started to Brahmbhatt’s companies from the year 2020 on the condition that the outstanding amount received from customers would be mortgaged. When investigation was done later, these bills were found to be completely false. Investigation revealed that the loan amount was transferred to offshore accounts in India and Mauritius.

Allegations of fraud under planning

BlackRock says that this has been done as per complete planning. A French bank BNP Paribas is also involved in financing Bankim Brahmbhatt. This bank had funded almost half of the loan given to Cariox Capital and its affiliates under Brahmbhatt’s telecom company.

When the loan process began, HPS appointed Deloitte to verify Cariox’s assets through customer due diligence. Later CBIZ firm was called for annual audit. Neither firm has commented publicly.

How was such a big fraud exposed?

HPS staff observed errors in customer emails used to verify invoices in July 2025. Many of these addresses came from fake domains imitating real telecom companies. Further investigation revealed that some of the documents purportedly sent from customers were fake. An HPS employee later visited the offices of Brahmbhatt’s companies in Garden City, New York and found the premises closed and deserted.

Larry Fink: On hearing the name of the richest man in the world, we know the veterans like Alan Musk, Jeff Bezos, Mark Zuckerberg, Bill Gates. But today we are going to tell you about the American businessman, he is more rich than these personalities. They have the highest money compared to all these.

World’s largest asset management company

Here we are talking about Larry Fink, who is the CEO of Blackrock, the world’s largest asset management company. Blackrock has a wealth of US $ 7.4 trillion, making it the world’s largest financial firm. By December 2024, Blacrock’s market cap increased to Rs 12.808 trillion. According to the market cap, 102nd is the most valuable company in the world.

Why Larry’s name not included in billionaires?

Larry Fink takes full care of Blackrock’s asset management business. He is currently the chairman and CEO of this global firm. Larry and Blackrock have a huge investment in companies around the world, which has a strong hold on the global stock market. Now the question is that even after managing such a large amount of money, why is Larry Fink’s name not included in the list of billionaires?

The answer is that this amount is completely the deposited capital of the public in Larry’s hands. Larry simply works to manage it, such as in which companies to invest these money, in which market to invest. This is the reason that Blackrock has a stake in every big company in the world. Due to all this, the name of Larry Fink is not in the list of Bilinyers.

How much property does Larry have?

The Blackrock is about half of the US GDP with a US $ US $. This is the reason that Larry Fink is also called the owner of half the US. According to Forbes, in April 2022, the total assets of Larry Fink were estimated at $ 1 billion.

Also read:

New tariff on 100 countries going to trump from 1 August; Is India also included in the list

Highhest paid ceo: When the richest people in the world are mentioned, we usually count the names of Allen Musk, Bill Gates and Jeff Bezos. However, today the person we are going to tell you about, he is ahead of them in terms of earnings this year. Here we are talking about Larry Fink CEO and Chairman of Blackrock.

What does the company work?

Blackrock is the world’s largest asset management company, which works to handle trillion dollars. The aim of this company made in 1988 is to help its customers in increasing money for the coming tomorrow. In 2024, this company earned a record profit, which also saw the impact on Fink’s salary.

Larry earned so much from the company in a year

Last year, Larry Fink earned $ 36.7 million (more than Rs 227 crore), which is 33 percent more than last year’s income of $ 26.9 million. According to Fortune, during this time there was no change in his salary and it remained stable at $ 1.5 million (about Rs 12.7 crore), but his cash bonus increased from $ 7.9 million to $ 10.6 million and the stock awards increased from $ 16.4 million to $ 24.6 million.

Speak on executive pay plan

Talking about this, Blackrock said, the company believes in paying the basis of performance. The company also spoke of giving importance to the opinion of its shareholders. However, not everyone is happy with this. A Fortune report has revealed that last year only 59 percent shareholders approved Blackrock’s Executive Pay Scheme, which is less than the average of the last 10 years.

The world’s top proxy adviser firm Institutional shareholder services (ISS) also criticized Blackrock for not addressing investors’ concerns properly. In response, the company said that it discussed their concerns with officers and investors representing around 65 percent of its shares. The company also said that after facing criticisms, no lump sum stock option will be given in 2024. However, despite all this, Larry Fink is one of the highest number of business leaders in the world today.

Also read:

13 paise shares and made millionaires, 34000% stormy boom has rained money