Overview
- Lenders led by HPS Investment Partners filed suit in August claiming entities tied to Bankim Brahmbhatt owe more than $500 million.
- Brahmbhatt, whose firms include Broadband Telecom and Bridgevoice, has denied the allegations through his lawyer.
- People familiar with the matter say BNP Paribas financed nearly half the exposure, with the debt held across two HPS credit funds.
- Routine checks in July flagged emails from fake domains and fabricated documentation used to validate receivables, according to court filings.
- Bankruptcy records show Brahmbhatt filed personal bankruptcy on August 12 as his companies sought Chapter 11, while reporters found offices locked and lenders fear he may have left the U.S., intensifying calls for stronger oversight of private credit.