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 STRIKES OUT LP’S PETITION CHALLENGING FUBARA’S VICTORY. (PHOTO).

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Tribunal Strikes Out LP’s Petition Challenging Fubara’s Victory

The Rivers State Governorship Election petition sitting in Abuja has dismissed the petition filed by the governorship candidate of the Labour Party in Rivers State, Beatrice Itubo, challenging the Election of Simnalayi Fubara of the People’s Democratic Party (PDP).

Following the declaration of Fubara as the winner of the March 18 governorship election, the LP and the All Progressives Congress (APC) as well as their candidates filed a petition before the tribunal.

Fubara polled 302,614 votes to defeat his closet rival Tonye Cole of the APC who scored 95,274 votes while the Social Democratic Party (SDP) candidate, Senator Magnus Abe, and Itubo came a distant third and fourth with 46,981 and 22,224 votes respectively.

On September 13, the tribunal reserved judgment on the petition filed by Cole seeking the nullification of Fubara’s victory.

The three-member tribunal, led by Justice Cletus Emifonye, adjourned the matter for judgment after the parties adopted their final written addresses and presented their arguments for and against the petition.

However, ruling on the LP’s petition on Monday, the Justice Emifonye-led tribunal dismissed the petition for lacking in merit and for failing to prove their allegations.

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