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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THREE SAUDIS MEN, ONE NIGERIAN ARRESTED IN SAUDI ARABIA OVER ALLEGED INVOLVEMENT IN THE SMUGGLING AND SALE OF COCAINE. (PHOTO).

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 Four members of a gang, including three Saudis and one Nigerian national have been arrested in Saudi Arabia over alleged involvement in the smuggling and sale of cocaine.

 

According to a report by Saudi Gazette on Monday, May 8, 2023, about 2.2 kilograms of cocaine were seized from the suspects.

 

The Criminal Investigation Department of the Riyadh Police revealed that it foiled an attempt to smuggle in and the sale of 2.2 kilograms of cocaine in the city of Riyadh and the Jeddah governorate.

 

The gang members based in the Jeddah governorate, were found involved in the smuggling of cocaine while a citizen led a gang of two other citizens who were engaged in carrying out the sale of cocaine in the city of Riyadh using organized criminal methods.

 

Riyadh police seized the quantity of cocaine and a sum of money. Legal measures were taken against the arrested gang members and they were referred to the competent authorities.

 

The security authorities called on Saudi citizens and expatriates to report information about any suspicious activities related to drug smuggling or sale by calling over the number 911 in the regions of Makkah, Riyadh and the Eastern Province and the number 999 in the rest of the Saudi regions.

 

They are also urged to report to the General Directorate of Narcotic Control (GNDC) via the number 995 or e-mail 995@gdnc.gov.sa. The authorities stated that all such reporting will be treated confidentially.

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