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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TWO ARRAIGNED OVER PEF JOB SCAM IN KADUNA.{PHOTO}.#PRESS RELEASE.

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The Kaduna Zonal Command of the Economic and Financial Crimes Commission, EFCC today July 29, 2021 arraigned the duo of Salamatu Isah and Hussaini Umar Aliyu before Justice  M.T.M Aliyu of the Kaduna State High Court on a two count charge bordering on conspiracy, obtaining by false pretence and employment scam. 

 

The defendants allegedly collected N 1,800,000 (One Million Eight Hundred Thousand Naira) from the petitioner whom they had promised to help secure employment with the Petroleum Equalization Fund for a fee of N3million. Not only did they fail to deliver on their promise, they also refused to refund the complainant.

 

 

Count one of the charge reads, “that you Salamatu Isah, 'F' and Hussaini Umar Aliyu 'M' sometime in August, 2020 in Kaduna within the jurisdiction of this Honourable Court did conspire between yourselves to do an illegal act to wit; obtaining by false, pretence the sum of N 1,800,000.00 ( One Million Eight Hundred Thousand Naira )  only from one Muhammed Musa Shitu under the pretence that you can secure an employment with the Petroleum Equalization Fund ( PEF)  within six weeks for him, a pretence you knew to be false, and you thereby committed an offence contrary to Section 8 (a) of the Advance Fee Fraud and Other Related Offences Act, 2006 and punishable  under Section 1 (3) of the same Act”.

 

The defendants, however pleaded not guilty to the charge. The prosecuting counsel Y.J Matiyak urged the court to fix a date for commencement of hearing but the defence counsel Shehu Bashir and A.A Abdulmalik urged the court to grant bail to the defendants. 

 

Justice Aliyu,  granted bail to the defendants in the sum of One million Naira each and a surety in like sum who must present evidence of tax payment in the last three years and be a relative of the defendants with  reputable character.

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