BlackRock has reportedly suffered massive losses after uncovering one of the largest financial frauds in history ā allegedly orchestrated by Indian national Bankim Brahmbhat. š±
š§¾ The Scheme: Brahmbhat forged contracts and invoices, making them appear legitimate and convincing enough for BlackRock to pay $500 million (ā1.87B riyals) in fraudulent receivables!
š¢ Operating from New York, he later transferred the funds to India and Mauritius, filed for bankruptcy in the US, shut down his office, and vanished without a trace. šŖļø
š£ The scandal has sent shockwaves through traditional finance and crypto markets alike ā highlighting once again why transparency, blockchain verification, and decentralized auditing are the future of global finance.
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