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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US MILITARY IMPOSTER BAGS ONE-YEAR IMPRISONMENT IN KWARA.{PHOTO}.#PRESS RELEASE..

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Justice Mahmood Abdulgafar of the Kwara State High Court sitting in Ilorin on Friday, July 30, 2021 sentenced an undergraduate, one Abdulsalam Oyeyemi, to one-year imprisonment for falsely posing as American Military Officer to defraud unsuspecting victims.

The Ilorin Zonal Command of the Economic and Financial Crimes Commission, EFCC, had on Thursday, July 29, 2021 arraigned Oyeyemi, 23, on one-count charge bordering on personation and internet fraud.


The charge reads: “That you, Abdulsalam Oyeyemi (aka Colt Williams,  James Anderson) sometime in March, 2020 or thereabout in Ilorin, Kwara State within the jurisdiction of this Honourable Court dishonestly induced one Cristina Gobin (aka Cristina Haripaul), a white lady to send you bitcoins worth the sum of 1,255 Canadian Dollars when you knowingly pretended and represented yourself to be one James Anderson, an American Military Messenger who is in charge of her husband, Colt Williams' internet connection when you had earlier represented yourself to the said Cristina Gobin as the said Colt Williams, an American Marine Officer who is in a romantic relationship with her and thereby committed an offence contrary to Section 321 and punishable under Section 324 of the Penal Code Laws of Northern Nigeria.”


The defendant pleaded guilty to the charge. 

Counsel to the EFCC, Aliyu Adebayo, led an operative of the Commission to review the facts of the case. In the process, incriminating materials found on the defendant upon arrest were tendered and admitted in evidence. These include the defendant’s extra judicial statements, fraudulent messages printed out of his phones and the manager's cheque (bank draft) of N200,000 (Two Hundred Thousand Naira) which he raised as restitution to the victim.


In his Judgment, Justice Abdulgafar said the court carefully considered the case of the prosecution, the plea of guilt entered by the defendant, his extra judicial statements and the exhibits tendered before the court, and found merit in it.

 

The judge sentenced Oyeyemi to one year imprisonment. According to him, “The sentence shall be suspended for one year”. 

 

The court, thereafter ordered the forfeiture of the convict’s iPhone and Manager's cheque of N200,000 (Two Hundred Thousand Naira) to the Federal Government. 


“The judgement is without option of fine”, the judge added.

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