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...

EFCC RETURNS N11MILLION STOLEN FROM RCCG CHURCH BY A BANKER TODAY+RCCG TO EFCC: ''YOU ARE AGENT OF TRANSFORMATION.{PHOTOS}.

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       The Redeemed Christian Church of God, RCCG, has commended the Economic and Financial Crimes Commission, EFCC, for being " an agent of transformation. 
This commendation was given on Wednesday by one of the regional Ministers of the Church, Pastor Mark Barango, while receiving a sum of N11, 984, 844, 11( Eleven Million, Nine Hundred and Eighty Four Thousand, Eight Hundred and Forty Four Hundred Naira, Eleven Kobo only), recovered and returned to the church by the EFCC. Barango said that the EFCC has demonstrated that it can be relied upon and its work is perfect . " My impression with the work of the EFCC is that it is perfect, perfect, perfect. The EFCC is an agent of transformation. Their work is perfect and the church is grateful that the money is returned to us", he said. Mr. Ishaq Salihu, South- South Zonal Head of the EFCC, in Port Harcourt, Rivers State handed over the money to him. The money was stolen by a banker and the Account Officer of the church, Ameh Cyril Idakwoji, in a web of fraudulent diversion and suppression of the finances of the church . Troubles came for Idakwoji when Access Bank Plc petitioned the EFCC about some missing funds in the accounts of one of its corporate customers in Port Harcourt. The customer, Jepthah International School, East- West Road, Port Harcourt, Rivers State, could not access N37,000,000( Thirty- Seven Million Naira only) in its account with the bank. The bank traced the scam to one of its staff, Idakwoji and named him the mastermind of the fraudulent dealings. Idakwoji doubled as the Account Officer of Jepthah International School and Redeemed Christian Church of God, Region 5, Port Harcourt, Rivers State. He defrauded the RCCG by suppressing and diverting cheques and cash meant for the Church to cover his shady deals in Jepthah International School. He was covering up by giving fake Statements of Accounts to both the school and the church. To execute his criminal schemes in RCCG, he forged the letter heads of the church's Region 5 and the signatures of the Pastor in charge of the Region. He also forged the signature of the church's accountant and attached same to the August 2017 Salary Schedule of Jepthah International school to the tune of ( N7, 129, 128. 78). The Church denied giving instruction for the payment of the salary of the school. Investigations by the Commission uncovered all the criminal movements of the fund of the church by Idakwoji and a sum of N11, 987, 844.11 found to have been stolen have now been recovered and returned to the church. It will be recalled that a sum of N36,000,000( Thirty Six Million Naira), recovered from Idakwoji, was returned to the management of Jepthah International School by the EFCC in September.While presenting the money to the church, Salihu emphasized the commitments of the EFCC to bursting any financial and economic scam, no matter how intricate and complex. He reiterated the zero- tolerance of the Commission for corrupt practices and warned criminal elements in the country to desist from fraudulent practices. " Crime and criminality are not limited to any group of people. They has no creed, no gender and no religion. The RCCG is a large church and we are pleased to have been able to recover the stolen money for a return to the church", he said. In his response, Pastor Barango scored EFCC high in its operations and said that the church will continue to pray for the continuing success of the works of the Commission.One more photo below.
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