NRI Bankim Brahmbhatt, CEO, Faces $500 Million Fraud Claims

Los Angeles/Nov 02, 2025
NRIpress.club/Ramesh/ A.Gary Singh

NRI Bankim Brahmbhatt, businessman, CEO of U.S.-based telecom firms Broadband Telecom and Bridgevoice, faces allegations of orchestrating a “breathtaking” financial fraud exceeding $500 million, according to a report by The Wall Street Journal.

Global investment giant BlackRock’s private credit arm, HPS Investment Partners, and other lenders have accused Brahmbhatt of fabricating customer accounts and invoices to secure massive loans. The lawsuit, filed in August, claims his companies created false financial records and moved funds offshore to India and Mauritius.

The alleged scheme began in 2020, when HPS started lending Brahmbhatt-linked financing firms, with total exposure growing from $385 million in 2021 to $430 million by 2024. French bank BNP Paribas reportedly helped arrange parts of the financing.

Brahmbhatt allegedly stopped responding to lenders’ inquiries, and his company offices in the U.S. were found closed. His firms, including Carriox Capital II, have since filed for bankruptcy, and Brahmbhatt himself filed for personal bankruptcy on August 12.

Lenders believe Brahmbhatt is currently in India. His lawyer has denied allegations, insisting that the businesses were legitimate.

The case has drawn global attention as one of the largest alleged private-credit frauds involving an Indian-origin executive in recent years.

CEO of U.S.-based telecom firms Broadband Telecom and Bridgevoice, faces allegations of orchestrating a “breathtaking” financial fraud exceeding $500 million, according to a report by The Wall Street Journal.

Global investment giant BlackRock’s private credit arm, HPS Investment Partners, and other lenders have accused Brahmbhatt of fabricating customer accounts and invoices to secure massive loans. The lawsuit, filed in August, claims his companies created false financial records and moved funds offshore to India and Mauritius.
The alleged scheme began in 2020, when HPS started lending Brahmbhatt-linked financing firms, with total exposure growing from $385 million in 2021 to $430 million by 2024. French bank BNP Paribas reportedly helped arrange parts of the financing.

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