India, Nov. 1 -- Bankim Brahmbhatt, an Indian-origin entrepreneur, has been accused of a "breathtaking" fraud, as the lenders have described, that has left US multinational investment firm BlackRock's private-credit arm and other investors trying to recover a sum of money amounting to over $500 million, media reports said quoting Wall Street Journal.

Brahmbhatt, the owner of the telecom services firms Broadband Telecom and Bridgevoice, fabricated accounts receivable that were used as collateral for securing loans.

The lenders further said that Brahmbhatt made fake invoices and customer emails and also forged contracts way back in 2018.

Brahmbhatt also allegedly transferred pledged assets offshore to India and Mauritius, News 18 reporte...