SOUTH KOREAN POLICE SEEK ARREST WARRANT FOR HYBE CHAIRMAN BANG SI-HYUK OVER ALLEGED $100 MILLION INVESTOR FRAUD SCHEME. (PHOTO).

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 South Korean police seek arrest warrant for Hybe chairman Bang Si-Hyuk over alleged $100 million investor fraud scheme    South Korean police are seeking an arrest warrant for Bang Si-Hyuk, the billionaire music executive behind K-pop powerhouse Hybe and BTS, as part of an expanding investigation into allegations that he improperly benefited from an investor scheme involving more than $100 million. Authorities said they have asked prosecutors to pursue a court warrant for Bang’s arrest as they continue probing claims that he misled investors in 2019. Investigators allege he told investors that Hybe had no plans for an initial public offering, leading them to sell shares to a private equity fund. The company later went public, and police suspect a separate arrangement may have resulted in Bang receiving a substantial payout tied to post-IPO stock profits. Bang’s legal team has not directly addressed the specific allegations but said he has cooperated with investigators an...
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EFCC SECURES INTERIM FORFEITURE ORDER OF N50 MILLION ON FORMER ENUGU CJ'S BANK ACCOUNTS.

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No automatic alt text available.                                                                            Justice A.M Liman of the Federal High Court sitting in Enugu,Enugu State has ordered an interim forfeiture of a sum of N50,000,000 {Fifty Million Naira only} contained in a Zenith Bank plc's account of a former Chief Judge of Enugu State,Justice Innocent Umezulike.The order was made in response to a prayer of the Economic and Financial Crimes Commission,EFCC,seeking the freezing,seizure and forfeiture of properties and assets linked to the former Chief Judge.
Umezulike is being investigated in connection with his alleged involvement in abuse of office and receiving gratification.Specifically,the former Chief Judge will be arraigned at a Federal High Court sitting in Port Harcourt,Rivers State on a four-count charge bordering on false asset declarations.Although the application for the arraignment has been filed before the court,no date has been fixed for the arraignment.
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