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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RIBADU INTERVENES AS FG RESOLVES RTEAN, LAGOS GOVT 15-MONTH DISPUTE.(PHOTO).

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Ribadu intervenes as FG resolves RTEAN, Lagos Gov’t 15-month dispute

The Federal Government has resolved the crisis between the Road Transport Employers Association of Nigeria, RTEAN and Lagos State Government.

It was gathered that peace move was brokered by the National Security Adviser, Nuhu Ribadu during a meeting with the leadership of the organised labour.

Recall that for 15-months, the activities of the RTEAN were banned in Lagos state after the leadership crisis that engulfed the association.

This led the state goverment to slam a ban on the association and subsequently appointed a 35-man Caretaker Committee to take over the activities of the union.

However, the intervention of the office of the National Security Adviser has now brought an amicable resolution of all issues in dispute.

RTEAN General Secretary, Comrade Yusuf Ibrahim Adeniyi, in a statement on Saturday, said certain resolutions were reached during the meeting between the Federal Government and organized labour that led to the end to the crisis.

According to him, the contentious issue of RTEAN leadership has been laid to rest with the unanimous appointment of comrade Adesina Teslim Hussaini also known as Okolomo as the new state chairman of RTEAN Lagos state effective from 1st January, 2024.

He said it was also agreed that all properties hitherto taken away from the union will be returned, adding that operation of RTEAN in all motor parks in Lagos state is to resume with immediate effect.

“No member of RTEAN will be victimized by the union or Lagos state Government for their role in the dispute”, he added.

Adeniyi called on RTEAN members to comply with the peaceful resolution reached and cooperate with the government and security agencies in discharging their duties.

Reacting, President of RTEAN, Musa Maitakobi announced the dissolution of the union’s former structure of Lagos state Executives Council members and adopt the appointment of Okolomo as the authentic chairman of Lagos state branch of RTEAN.



 

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