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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INEC WARNS AGAINST CAMPAIGNS IN CHURCHES,MOSQUES,VIOLATORS RISK IMPRISONMENT.(PHOTO).

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INEC Warns Against Campaigns In Churches, Mosques, Violators Risk Imprisonment

Exactly one month to the commencement of campaigns for the presidential and National Assembly elections, the Independent National Electoral Commission has warned political parties and candidates against the use of masqueraders, public facilities and religious centres for campaigns.

The commission asked political parties to align strictly with the provisions of the Electoral Act to avoid sanctions as stipulated by the Act. INEC had fixed September 28 for the commencement of campaigns for the presidential and National Assembly, while the elections would hold on February 25, 2023.

Relying on Section 92 of the Electoral Act, 2022, INEC National Commissioner and Chairman of its Committee on Information and Voter Education, Mr Festus Okoye, in a recent interview with our correspondent explained that the law expected political campaigns to be civil and devoid of abuse.

Okoye said, “Section 92 of the Electoral Act makes it mandatory that a political campaign or slogan shall not be tainted with abusive language directly or indirectly likely to injure religious, ethnic, tribal or sectional feelings.

“Therefore, abusive, intemperate, slanderous or base language or insinuations or innuendoes designed or likely to provoke violent reaction or emotions shall not be employed or used in political campaigns.

“Subsection 3 states that places designated for religious worship, police stations and public offices shall not be used for political campaigns, rallies and processions; or to promote, propagate or attack political parties, candidates or their programmes or ideologies.

“Masqueraders shall not be employed or used by any political party, aspirant or candidate during political campaigns or for any other political purpose.”

 

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