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...

ABBA KYARI SHOULD TRAVEL TO U.S. IF HE'S SURE OF HIS TAILOR,DEFENCE-FALANA.[PHOTO].

Human rights lawyer Femi Falana has challenged Nigeria’s deputy police commissioner Abba Kyari to submit himself to the jurisdiction of the District Court in the United States if he is not guilty of allegations against him.


Mr Kyari had denied any wrongdoing after Peoples Gazette on Thursday broke the news of his embroiling with Nigerian Internet fraudster Ramon Abass known as Hushpuppi, in a multimillion-dollar fraud.


Court documents revealed an order to arrest and detain Mr Kyari after Mr Abbas pleaded guilty to large-scale cyber fraud in the U.S. recently. The documents also exposed how Mr Abbas bribed Mr Kyari to arrest one of his gang members following a dispute presumably over the proceeds of crime. The police officer arrested and detained the gang member.


Claiming no wrongdoing, Mr Kyari, in a statement on Facebook, narrated how Mr Abbas called him two years ago to complain about a person threatening to kill his family.


He said the suspect was released after discovering there was no threat to anyone’s life, “and they are longtime friends who have money issues between them.


“Nobody demanded a kobo from Abbas Hushpuppi,” claiming that he only introduced Mr Abbas, who paid N300,000 to his cloth vendor.


“Later, he saw some of my native clothes and caps on my social media page, and he said he likes them, and he was connected to the person selling the clothes, and he sent about N300k directly to the person’s account,” added Mr Kyari. “The native clothes and caps (five sets) were brought to our office, and He sent somebody to collect them in our office.”


Reacting to Mr Kyari’s claims, Mr Falana said, “The United States and Nigeria have an extradition treaty which covers the offences allegedly committed by CP Abba Kyari.”

 

“If the police officer insists on his innocence, he may want to submit himself to the jurisdiction of the district court in the United States. Once the request is received by the federal government, the attorney general will commence extradition proceedings in the federal high court.”


Additional details in the indictment file contained how Mr Kyari left his job as a police officer and travelled to Dubai to enjoy a good time with Mr Abbas, who lived at Palazzo Versace in the Emirati commercial capital.

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