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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FMST TO COLLABORATE WITH CUBA ON VACCINE PRODUCTION.{PHOTO}.#PRESS RELEASE..

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The Minister of Science and Technology, Dr. Ogbonnaya Onu said that Nigeria is working very hard to produce a locally made vaccine to enable its Professionals and Scientists be involved in the production process.


The Minister said this when the Cuban Ambassador to Nigeria, Her Excellency Clara M. Paulido-Escandell paid a courtesy visit in his office on Monday, in Abuja.


Dr. Onu further said that the essence of production of the vaccine locally will help the country  create job and equally reduce poverty levels


He further stated that Nigeria is intensifying its effort in research towards the production of Covid-19 Vaccine so that other countries can benefit.


Dr. Onu reiterated that Nigeria will leverage on the existing bilateral relationship between the two countries to work together in other areas for the mutual benefit of both countries.


According to the Minister, already, there are claims for the disease cure, which presently is being investigated at various levels and undergoing clinical tests.


He also stressed the need for Nigerian Professionals and the organised private sectors (OPS)to ensure  that the Executive order No. 5 is fully  operational, adding that if any Nigerian professional suffers any unfairness in the procurement process the Ministry should be notified.


In his words “we want all Nigeria Professionals to be at the centre of economic activities in the country and we believe strongly is the only way that enterprises, cooperation, growths will become very strong’


Earlier, the Cuban Ambassador to Nigeria, Her Excellency Clara M. Paulido-Escandel acknowledged that her last visit to the Ministry availed her with the opportunity of working with some Agencies such as National Bio-technology and Development Agency (Nabada) and Shetsco development Institute to further achieve the local vaccine production. She also warned against the rising  cases of  New COVID-19 variant.


 


Irondi  Ifeoma

And

Maryam Zakari.

13th July, 2021.

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