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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PRESIDENT BUHARI CONGRATULATES ETHIOPIA'S PRIME MINISTER ABIY AHMED OVER ELECTION VICTORY, SAYS AFRICA MUST UNITE AGAINST INSTABILITY.{PHOTO}.#PRESS RELEASE.

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STATE HOUSE PRESS RELEASE


PRESIDENT BUHARI CONGRATULATES ETHIOPIA'S PRIME MINISTER ABIY AHMED OVER ELECTION VICTORY, SAYS AFRICA MUST UNITE AGAINST INSTABILITY


President Muhammadu Buhari has congratulated the Prime Minister of Ethiopia Abiy Ahmed over the decisive victory won by his party in the just concluded parliamentary elections, returning him to office for another five years.


Reacting to the outcome of the elections as announced over the weekend, the President told the Ethiopian leader: "On behalf of the Nigerian people I send you and the people of Ethiopia our well wishes for your courage and commitment to the democratic process and urge you to continue with the good policies of your government that endeared you to the people.”


President Buhari, who also reflected on the instability rocking Ethiopia appealed to parties and factions in the country to come together to halt their country’s march to civil war to save their people from depravations of conflict.


He lamented that instability in one part of Africa is a threat to stability elsewhere: “Instability is a grave threat to African progress. African countries cannot attain their development goals if every group resorts to violence and destabilisation instead of seeking peaceful resolution of conflicts through dialogue." 


President Buhari assured the Ethiopian leader that Nigeria will continue to support the unity and territorial well-being of his country and of all African States. 


Garba Shehu


Senior Special Assistant to the President


(Media & Publicity)


July 12, 2021

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