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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NIGERIA CUSTOMS SERVICE TO BEGIN AUTOMATIC CLEARING TRANSFER.{PHOTOS}.

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The Chairman, House Committee on Customs and Excise, Honourable Leke Abijide, has asked lawmakers to engage their constituents on the need to stop car smuggling in Nigeria. 


Honourable Abejide was speaking during an interface with the Nigeria Customs Service on Trade and Tariff, about the time and amount expended on Customs clearance and transfer of imported goods.


The House Committee Chairman,  implored the Comptroller General of Customs to give  Nigerians especially Ministries that may have erred by buying their vehicles through smuggling three months to pay their duties and regularise their papers or go to jail.


He said the essence of the interface, is to facilitate trade and the ease of doing business in Nigeria and asked the ministry of finance to provide scanners for automation of the Customs Service.


Another member of the House Committee, Honourable Ibrahim Mohammed,  had stressed the need for decongestion of the ports which according to him, can be facilitated through limiting the number of stops to three instead of six.


He said though the Customs Service has done a lot in revenue generation, there is a dire need for them to do more to ease the suffering of importers.


Earlier, Assistant Comptroller General, Trade and Tariff, ACG Aliyu Seidu, had accused Ministries,  Departments and Agencies of government of aiding smuggling of vehicles and asked the law makers to assist them fight the menace which is militating against their efforts.


He warned that presently, the Customs law says, such cars will be seized and their owners jailed.


ACG Seidu, emphasized that though the Customs Service has embarked on e-project that will enable Nigerians clear their goods from any part of the country, it however, does not mean leaving the system unchecked.

One more photo below.

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