BlackRock, the world's biggest investment group, is facing a $500-million (₹4,435 crore) loss after its private credit investment arm fell victim to an alleged fraud by an Indian-origin CEO. Calling it a "breathtaking fraud", lenders accused Bankim Brahmbhatt, owner of Broadband Telecom and Bridgevoice, of fabricating accounts receivable that were supposed to be used as loan collateral.