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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OYAN DAM RELEASE: LAGOS ALERTS RESIDENTS.{PHOTO}.#PRESS RELEASE.

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Lagos State Government, on Tuesday, alerted residents in areas contiguous to the Ogun River about the steady release of water from the Oyan Dam, urging everyone to standby in case there is a need to move from their locations.


A statement signed by the Commissioner for the Environment and Water Resources, Mr. Tunji Bello, said officials of the State have been monitoring the release, which was earlier announced through an advisory.


He listed areas where the release of water is being felt as Isheri North, Kara, Itowolo, Ajegunle, Majidun and Ogolonto, stressing that the intensity of rainfall recorded in Lagos and flow of connecting rivers determines the level of water that would be released by the Oyan Dam authorities.


He added that within the last week, the volume of water released had increased from 15,000 to 21,000 millilitres but reduced to 17,000 millilitres on Monday.


Bello stated that more water would be released  from Oyan Dam and is expected to reach the peak in October, advising residents in low-lying areas to be on standby to move to higher grounds. 


“Specifically, residents who live in the downstream of Isheri Olofin up to part of Agboyi will experience flooding as earlier predicted”, he noted.


The Commissioner, similarly, stressed that the Onikoyi/Agelete Community at IBA New Town in IBA Local Council Development Area may also experience flooding due to the proximity to Yewa River.

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