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 JAILED SIX MONTHS FOR FALSE INFORMATION.[PHOTO].#PRESS RELEASE.

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The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, today, July 30, 2021 secured the conviction of the duo of Tijjani Haruna and Abdullahi Ahmed to six months imprisonment before Justice Aisha Kumaliya of the Borno State High Court, Maiduguri on separate  one-count amended charge of giving false information to operatives of the Commission.

 

The offence is contrary to and punishable under Sections 139 and 139 (a) of the Penal Code Laws of Borno State.

 

One of the charge reads: "That you, Tijjani Haruna, sometimes in September 2018 at Maiduguri, Borno State within the jurisdiction of this Honourable Court, being legally bound to furnish true information on your  POS. transactions, to the Economic and Financial Crimes (EFCC) Operatives during the course of investigation furnished the Commission with information which you knew or has reason to believe to be false and thereby committed an offence contrary to and punishable under Sections 139 and 139 (a) respectively of the Penal Code Laws of Borno State."

 

The other charge reads: "That you, Abdullahi Ahmed, sometimes in November 2019 at Maiduguri, Borno State within the jurisdiction of this Honourable Court, being legally bound to furnish true information on your POS transactions to the Economic and Financial Crimes (EFCC) Operatives during the course of investigation furnished the Commission with such information which you knew or has reason to believe to be false and thereby committed an offence contrary to and Punishable under Sections 139 and 139 (a) respectively of the Penal Code Laws of Borno State."

 

They "pleaded guilty" to the charges preferred against them by the EFCC.

 

Upon their plea, prosecution counsel, Mukhtar Ali Ahmed reviewed the facts of the case and urged the court to convict and sentence the duo as charged.

 

Justice Kumaliya convicted and sentenced the defendants to six months imprisonment each with an option of N20, 000.00 (Twenty Thousand Naira) fine.

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