BlackRock Faces $500 Million Loss Amid Fraud Allegations
TL;DR Summary
BlackRock's recent acquisition of HPS Investment Partners revealed a $150 million loss due to a fraudulent telecom loan backed by fake collateral, involving lawsuits against businessman Bankim Brahmbhatt, highlighting risks in asset-based finance amid broader credit market concerns.
- Credit Fraud Fears Loom After BlackRock’s HPS Zeros Out Bad Loan Bloomberg.com
- Indian-Origin CEO Hits BlackRock With "Breathtaking" $500-Million Fraud NDTV
- Exclusive | BlackRock Stung by Loans to Business Accused of ‘Breathtaking’ Fraud - WSJ The Wall Street Journal
- Indian telecom player Bankim Brahmbhatt bunks US after $ 500 million rip-off The Times of India
- BlackRock loses $500m on shadow banking blow-up The Telegraph
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