Gujarat – Bankim Brahmbhatt, a Gujarat-born owner in the global telecom industry shocked the US private-credit giant BlackRock by $500 million fraud. This multinational giant was the investor in Brahmbhatt’s firms. Sources claimed that Brahmbhatt had falsified the invoices and accounts receivable that were pledged as collateral to secure massive loans. HPS, a private-credit investment arm of BlackRock, filed a lawsuit against him. But, Brahmbhatt denied the allegations and his current digital presence is little to be found.
According to a report, Brahmbhatt raised a million dollars from private-credit investors through a nexus of shell companies - Carriox Capital and BB Capital SPV. Till 2024, BlackRock gave around $430 million to Brahmbhatt’s firms. In July 2025, HPS employees discovered that the customers' email addresses provided by Brahmbhatt’s firms contain fake domains mimicking real telecom companies. Although Brahmbhatt told them not to worry about this, he cut off his communications with BlackRock. On August 12, Brahmbhatt filed for bankruptcy. The lawsuit filed by HPS mentioned that Brahmbhatt transferred the loan collateral to offshore accounts in India and Mauritius also.
There is hardly any information online about Brahmbhatt. His LinkedIn account appears to have been deleted. Bankim Brahmbhatt owns Broadband Telecom and Bridgevoice, a pair of little-known companies in the global telecom-services sector. These two companies belong to the Bankai Group. This group declared Brahmbhatt the president and CEO. Since the fraud came out, HPS visited offices in Garden City, New York. They found it closed and deserted. Report claims that two BMWs, a Porsche, a Tesla and an Audi, all dust-covered, were parked in the driveway.
Interestingly, Brahmbhatt featured in Capacity's Power 100 List of 2023 for his work in the telecom industry. Now, Bankim Brahmbhatt has become one of the most wanted fraudsters.
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