BlackRock private-credit investing arm and other American lenders have been hit by what they describe as “breathtaking” fraud, as they try to recover funds worth millions of dollars, according to a Wall Street Journal report.

Bankim Brahmbhatt, owner of US based Broadband Telecom and Bridgevoice, has been accused of fabricating accounts receivables (AR) that were meant to be used as loan collateral, according to WSJ.

BlackRock and other lenders have filed a lawsuit insisting that ventures led by Brahmbhatt, who is the owner of the telecom-services companies Broadband Telecom and Bridgevoice, owe them over $500 million in connection with the allegations they’ve launched against them. As per the websites of the accused’s businesses, they sell services and infrastructure to other telecom c

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