U.S. investigators probe exec Brahmbhatt over fraud allegations, WSJ says

The Federal Bureau of Investigation and the U.S. Attorney’s Office in Brooklyn are probing Bankim Brahmbhatt, the telecommunications executive facing fraud allegations from BlackRock’s (BLK) HPS Investment Partners and other lenders, Jack Pitcher and Corinne Ramey of The Wall Street Journal reports, citing people familiar with the matter. The investigation centers on Brahmbhatt and his business activities, the sources added. It is not yet clear when the inquiry began and if it would result in charges. Brahmbhatt is the owner of Broadband Telecom and Bridgevoice, and was accused of fabricating accounts receivable that were meant to be used as loan collateral.