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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ICPC’S WAR ON CORRUPTION KEY TO GOOD GOVERNANCE, GROWTH AND DEVELOPMENT - CHAIRMAN.(PHOTOS).#PRESS RELEASE

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ICPC’S WAR ON CORRUPTION KEY TO GOOD GOVERNANCE, GROWTH AND DEVELOPMENT - CHAIRMAN


The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Adamu Aliyu SAN, has underlined the commitment of the Commission to go all out in its bid to stamp out corruption as one of the keys to actualizing good governance, growth and development of the country.

Dr Aliyu made this assertion during a strategic meeting with delegates from the African Union Development Agency-New Partnership for Africa’s Development (AUDA-NEPAD) at the Commission’s headquarters on Wednesday.

The ICPC boss stated that the Commission owed it to citizenry to detect and tackle corruption that has negatively impacted the image of Nigeria for so long.

According to him, the impact of corruption is manifested in underdevelopment and poverty which makes the prospect of investment unappealing. He insisted however, that the responsibility for projecting the country in a positive light, must be a collective effort.

Dr Aliyu stated that his predecessors had left a legacy of strategic partnerships with organisations which he intended to build upon, pointing out that there was a viable track record of ICPC and NEPAD working together on various projects including election monitoring. He added that future collaborations must be geared towards projecting a positive image of Nigeria to encourage internal and foreign investment while fostering development.

Speaking from a larger perspective, the ICPC Chairman pointed out that eradicating corruption in Nigeria would be infectious to neighbouring countries and the continent as a whole which in turn would significantly boost development through improved socio-economic values and infrastructure.

In a similar vein, the Secretary to the Commission, Mr. Clifford Oparaodu Esq, suggested that policies developed from joint initiatives between the Commission and stakeholders would be invaluable to development as a result of increased efficiency.

The Chief Executive Officer of AUDA-NEPAD, African Peer Review Mechanism (APRM), Honourable Princess Gloria Akobundu who led the visiting delegation, said NEPAD hoped to ensure Nigeria is respected continentally and globally. This she said, could be achieved by advocating for improved governance and economic growth. 

Akobundu asserted that the APRM initiative was meant to encourage African countries to foster healthy relationships based on self-assessment and improvement.

 More photos below. 



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