11:03 AM EDT, 10/30/2025 (MT Newswires) -- BlackRock ( BLK ) is among a group of lenders that filed a lawsuit seeking to recover over $500 million from Bankim Brahmbhatt, owner of two telecom services companies, over alleged fraud, The Wall Street Journal reported Thursday.

The lenders said Brahmbhatt fabricated accounts receivable that were supposed to be used as loan collateral, the report said. Brahmbhatt's lawyer reportedly told WSJ that he disputes the allegations.

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