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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SENEGAL BANS TIKTOK, SEEKS REGULATION DEAL.(PHOTO).

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Senegal Bans TikTok, Seeks Regulation Deal

Senegalese authorities have refused to lift the ban on TikTok, a Chinese social media app, until the company signs an agreement that will allow the creation of the algorithm to delete accounts.

The ban was placed in August following the arrest of an opposition leader, Ousmane Sonko, saying the platform was being used to distribute hateful and subversive messages that threatened the stability of the country.

The government requested for an improved regulation of TikTok, clarification on its algorithm and data protection, and fair compensation for content creators to support young people’s social media livelihoods.

Communications minister, Moussa Bocar Thiam, said at a press conference that the restriction is being maintained pending the conclusion of a comprehensive written agreement.

Many other events have been happening with the social media platform aside receiving bans from countries like Senegal and Somalia.

Also, Irish regulators have fined TikTok €345 million for violating children’s privacy.

 

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