People
By Rahul Kumar 01-11-2025
A massive financial scandal has rocked Wall Street — involving BlackRock-backed HPS Investment Partners and an Indian-origin businessman, Bankim Brahmbhatt. Investigators call it a “breathtaking” fraud, one of the largest in private credit history.
Bankim Brahmbhatt is the founder of Bankai Group, a telecom and fintech conglomerate operating in the U.S., Singapore, and India. Once celebrated as a visionary entrepreneur in global telecom trading, he is now at the center of a $500M fraud probe.
Brahmbhatt’s companies allegedly fabricated invoices and fake customer accounts to secure loans. These bogus documents were used as collateral to borrow hundreds of millions from lenders like HPS Investment Partners, partly funded by BlackRock’s private credit arm.
Forensic teams hired by the lenders discovered: ✅ Fake emails confirming non-existent telecom clients ✅ Dozens of forged invoices ✅ False receivables worth millions The lenders’ lawsuit calls it “one of the boldest financial fabrications” ever seen.
🗓️ In August 2025, Brahmbhatt reportedly filed for bankruptcy in the U.S. ⚖️ Lenders are pursuing civil suits in New York to recover funds. 🗣️ Brahmbhatt denies wrongdoing and calls the allegations “incorrect.” Investigations continue into asset tracing and potential criminal charges.
This scandal has exposed weaknesses in private credit due diligence and risk controls. It raises serious questions about oversight in billion-dollar lending to private firms and could reshape credit market regulations worldwide.
Timeline Snippets: 📅 2020–2024: Loans issued to Brahmbhatt’s firms. 📅 Aug 2025: Bankruptcy filing surfaces. 📅 Oct 2025: BlackRock-linked lenders expose the fraud. 📅 Nov 2025: Legal proceedings expand internationally.
Lenders are tracking funds across countries. If proven true, the Brahmbhatt case could become a landmark corporate fraud — changing how private equity and credit funds assess risk.
A story of ambition, alleged deceit, and financial chaos. What began as a telecom empire has turned into a global financial scandal — still unfolding in U.S. courts.