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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TRIBUNAL SACKS ONDO LAWMAKER.(PHOTO).

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Tribunal sacks Ondo lawmaker


The election of Hon Nelson Akinsuroju, representing Ileoluji/Okeigbo constituency in the Ondo House of Assembly has been nullified. 

Hon Akinsuroju was elected on the platform of the All Progressives Congress(APC). 

He was declared winner after polling 10,207 votes against 9287 votes polled by the PDP candidate. 

His election was nullified after the tribunal declared the March 18th, 2023 election in Ile-Oluji/Okeigbo Constituency was inconclusive. 

The tribunal, in the judgment in the petition filed by candidate of the People’s Democratic Party, Babatunde Fadare, ordered re-run election in six out of 27 polling units. 

Fadare challenged election in 27 polling units out of 191 polling units in the constituency. 

Chairman of the three-man panel Justice Rose Soji, ordered a rerun in six affected polling units.

Counsel to Akinsuroju, Remi Olatubora, said the judgement was based on morality of the case and not competence of the results. 

He said “the judgment shall be studied and shall be appealed within the stipulated timeframe, as stated in the Electoral Act of 2022.” 

The sacked lawmaker called for calm and assured the people that, their mandate would be protected.

 

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