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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N700M DIEZANI BRIBE: EFCC RE-ARRAIGNS EX-GOV. YERO,OTHERS.{PHOTO}.#PRESS RELEASE.

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The Economic and Financial Crimes Commission, EFCC, today July 13, 2021 re-arraigned a former governor of Kaduna State, Muktar Ramalan Yero before Justice M.G Umar of the Federal High Court, Kaduna on an eight count amended charge of money laundering.


Yero is being prosecuted by the EFCC alongside Nuhu Somo Wya (a former Minister), Ishaq Hamsa (former Secretary to Kaduna State Government) and Abubakar Gaiya Haruna (former Chairman of People’s Democratic Party, PDP in the state) for their alleged involvement in the sharing of Seven Hundred Million Naira (N700, 000,000.00) provided by former Minister of Petroleum Resources Diezani Alison-Madueke to influence the outcome of the 2015 presidential election.


Their re-arraignment today followed the transfer of the former trial judge, Justice Zainab B. Abubakar to another division of the Federal High Court.


When the case was mentioned, the prosecuting counsel, Nasiru Salele told the Court that the case was for re-arraignment of the defendants and urged the court to ask them to take their pleas. 


The defence counsel did not object.


The eight count charges were read to the defendants and they all pleaded ‘not guilty’. 


In view of their pleas, the prosecuting counsel asked the court to fix a date for trial. 


Bu the defence counsel drew the attention of the court to the previous bail granted the defendants, asking that the status quo be sustained which the prosecution counsel did not oppose. 


The court consequently adopted the bail earlier granted the defendants and adjourned till October 13, 2021 for commencement of trial.

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