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.
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