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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TRAVELLERS STRANDED AT FAILED PORTION OF ONDO-AKURE HIGHWAY. (PHOTO).

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Travellers stranded at failed portion of Ondo-Akure highway

Motorists and travellers have been left stranded along the busy Ondo-Akure highway for the past few days after a significant portion of the road in the Owena axis collapsed due to heavy rainfall.

The resulting damage subsequently caused a severe traffic snarl, forcing many motorists to turn back and reroute their trips through Osun State.

Even those travelling from Akure, the Ondo State capital, were compelled to seek alternative routes, going as far as the Akure-Ilesa Road to access Ondo town.

The situation has left commuters frustrated and inconvenienced as they call for urgent repairs and maintenance on the affected highway.

Residents and traders in the area who expressed dissatisfaction with the Federal Roads Maintenance Agency (FERMA), claimed that the agency turned a blind eye to the deteriorating condition of the road despite the obvious warnings.

According to motorists, the highway would not have reached its current deplorable state if FERMA had taken appropriate action to fix it.

They stressed that their frustration and disappointment stem from the perceived negligence on the part of FERMA, as the agency’s inaction has contributed to the present dire situation.

Meanwhile, Segun Odidi, a member of the All Progressives Congress (APC) in the state, has appealed to the state government for urgent intervention.

“I know it’s a Federal Government road, but the pain people are going through on the road is unbearable now. I had to drive from Ondo through Ile-Oluji to the Ilesha motorway before I could connect to Akure yesterday, making a journey of almost two hours since the normal route has been rendered impassable.

“Please come to the aid of our people the way you have always done on that failed portion of the road in the Owena axis,” he said.

He also called on the state government to help fix the failed portion of the Ondo-Ife Road at the Valentino axis of the town, which he said is “becoming a nightmare to motorists.”

 

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