BlackRock (BLK) and other private credit lenders have accused Bankim Brahmbhatt of fabricating accounts receivable that were supposed to be used as loan collateral, Jack Pitcher, Juliet Chung and Soma Biswas of Wall Street Journal report. The lenders say Brahmbhatt’s companies owe them more than $500M, according to the Journal. BNP Paribas (BNPQY) helped BlackRock’s HPS Investment Partners finance the Brahmbhatt loans, people familiar with the matter told the paper.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLK:
- A Behind-the-Scenes Look at How Meta Raised $30 Billion for Its AI Data Center
- Crypto Currents: PayPal partners with OpenAI for payments
- Crypto Currents: Markets eye Fed, China trade talks
- Saudi Arabia Moves Billions From Neom to AI Investments Backed by Nvidia and Amazon
- Inside Moves: Snap, GM, Delta, AmEx, BlackRock