We know what’s coming and we are prepared.
🇮🇳 Indian citizen, Bankim Brahmbhatt scammed BlackRock and BNP Paribas out of 552.6 million $ to fund a fake private equity fund, Carriox Capital
Brahmbhatt ran Carriox Capital, a New York telecom financing outfit that convinced BlackRock's HPS Investment Partners and BNP Paribas to lend him $552.6 million. The entire deal was built on one claim: he had legitimate receivables from T-Mobile, Telstra, BICS, Telecom Italia Sparkle, and Taiwan Mobile backing the loans.
None of it was real. Brahmbhatt forged contracts that appeared to be signed by representatives from these carriers. He created fake invoices supposedly issued by these companies claiming they owed Carriox money. Then he spoofed email addresses mimicking these carriers' real domains and sent fake verification emails to make the receivables look legitimate. By stacking these fabricated invoices on top of each other, he created what looked like $500+ million in collateral. The lenders saw assets and funded the deal without catching any of it.
Here's where it gets embarrassing. When HPS and BNP Paribas finally tried to verify these receivables by actually calling T-Mobile, the carrier said they had no idea what Carriox was talking about. No contracts. No invoices. Nothing existed. One phone call would have instantly revealed the entire fraud. These are supposed to be institutional-grade lenders with world-class risk management. Yet somehow they missed basic due diligence.
While all this was happening, Brahmbhatt's people were also stealing cash. Whenever payments came through the lender-controlled collection accounts, instead of applying those funds to the debt, they diverted the money offshore. So he wasn't just fabricating collateral. He was stealing actual cash flows in real time.
Lenders sued in August 2025 and froze all assets. Carriox filed for Chapter 11 bankruptcy with $500 million to $1 billion in liabilities and basically zero assets remaining. HPS is sitting on $552.6 million in losses with nothing to recover against.
The kicker is BlackRock acquired HPS for $12 billion in July 2025 specifically to expand into private credit and get access to its $148 billion platform. Within 90 days of closing that deal, they're holding a half-billion dollar fraud loss on receivables that HPS supposedly vetted and monitored.
That's not just a bad deal. That's a massive question mark about whether one of the world's largest asset managers actually has the infrastructure to verify complex collateral in modern lending markets. If BlackRock's $12 trillion asset management machine can miss $500+ million in forged documents and fake invoices, what else are they missing? This is the systemic risk that should concern everyone.
🔗 Stock Market News
📢 🇬🇧 🥫 Britain has urged households to stock enough water, non-perishable food and medicine to be self-sufficient for three days, launching a new “Be Ready” preparedness campaign.
Government guidance recommends about three liters of drinking water per person per day, food that needs no refrigeration or cooking, essential medications, a first-aid kit, a torch, a battery or wind-up radio, a charged power bank and cash.
Officials cited severe storms, wildfires, cyberattacks and supply chain disruptions as the main risks, with Defence Secretary Wes Streeting pointing to “increasingly sophisticated cyber attacks” and scenarios such as supermarket payment systems going down.
Germany has long gone further, recommending households keep emergency supplies for 10 days, including about two liters of liquid per person per day.
📝 ReadyGuidance: "Worth noting the US version of this advice, at Ready.gov, is one gallon of water per person per day, about 3.8 liters, because ...
🇮🇹 Italy Experiences Food and Fuel Shortages After Truckers on Strike Block Roads. 90% of gas stations in Campania are out of fuel
Truckers protesting high gas prices have prevented deliveries to parts of southern Italy, leading to empty shelves and dry pumps.
On Wednesday night in Naples, Italy, a 72-year-old retiree walked into a supermarket to buy himself a snack and found it nearly bare.
It was out of milk, yogurt and eggs. Its shelves of pasta, oils and canned tomatoes were almost empty. The vast produce section was empty save for red onions, chestnuts, two melons and a case of ornamental gourds.
“It’s worse than I expected,” said Giuseppe Crisci, the retiree, who walked out with a bag of biscuits. “And what I expected was exceptional.”
Experiences like Mr. Crisci’s played out repeatedly this week across Naples, a sprawling port city in Italy’s south where residents faced widespread shortages at their gas pumps and grocery stores.
It is the fallout from a week of...
🇺🇸🗳⚡️- RN's Midterm Forecast With A Week And A Half To Go 3/3:
Why we think this election will be the first real nail in the coffin for Trumpism.
It has been said so many times it's become a meme, “the walls are closing in” “No way he wiggles out of this jam!” etc. This time it's not a joke, the armor that Trump has had around him for a decade is clearly slipping off.
Trump’s approval by his own 2024 voters continues to rapidly decline, damaged by the nonstop rampant corruption and the Iran War.
Trump approval within the GOP, despite remaining strong on paper, is actually at its lowest since 2015 before he won the 2016 primary. The Iran War in particular has nuked his bedrock fanatical support within the GOP base when looking at not only surveys but also via multiple anecdotes on AM radio talk shows who get callers every day saying they feel betrayed by the war, and that the corruption is becoming unignorable.
GOP activists at the local level are also reporting to their ...
