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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WE SPENT N744. 5M ON LITIGATION, RECEIVED N595.9M FROM NIGERIANS- OBI-DATTI CAMPAIGN GIVES ACCOUNT. (PHOTO)

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 We spent N744.5m on litigation, received N595.9m from Nigerians – Obi-Datti Campaign gives account

The Obi/Baba-Ahmed Presidential Campaign Organisation has disclosed that it spent over N744,500,000.00 (seven hundred and forty-four million, five hundred thousand) in litigation in courts over the 2023 presidential election.


The organisation also said that it received donations totalling N595,976,994.00 from Nigerians.


This was made known on Thursday by Aisha Yesufu, the Chairman of the Fundraising Team of the Campaign Organisation during a fundraising report presentation.


She said, ”Accountability and transparency are very critical and important; that is why we asked people to donate so that we could come back to them to explain how their money was judiciously used.


”We thank everyone who donated in cash and kindness.


”From the donations from citizens, we received N595,976,994. This is the money we raised from the four accounts that we have talked about.


”We also received N8,000,00.00 from the candidate himself (Peter Obi).


“We designed a strategic blueprint focused on channelling the movement energy and support for Peter Obi and Datti Ahmed with different support groups. We provided direct and indirect support to over a hundred support groups across all 36 states in Nigeria. We also deployed media-related campaigns that reached over 11 million people, leveraging over 40 radio stations, community outreach, and social media.


“We would have loved to use Televisions and all of that, but because of our financial constraints, we were mindful of being judicious in our usage of the funds that we received.


”So, out of these things, campaign materials worth N258,374,330.00 were procured and distributed across the 36 States and also in Abuja. Media and radio broadcasting was at the cost of N16,432,867.00.


”For the election promotion expenses, we had N10,808,948.00.


”For Polling Unit Agents, we spent N324,381,700.00. And then, of course, we had bank charges of N1,750,544.00. We also had administrative charges of N477,000.00.


”We deployed N744,500,000.00 to cover legal expenses. And then, in campaign and election activities, we had over N28,500,000.00.


“On the issue of legal fees, remember what I said earlier: We had N800,000,000.00 that the candidate himself brought.”

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