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 CASE: COURT ORDERS ARREST OF 3 RURAL ELECTRIFICATION AGENCY ACCOUNT STAFF FOR MULTI-MILLION NAIRA FRAUD. (PHOTO). #PRESS RELEASE.

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 ICPC Case: Court Orders Arrest of 3 Rural Electrification Agency Account Staff for Multi-Million Naira Fraud


A Federal High Court sitting in Abuja has issued a bench warrant for three staff of the Account and Finance Department of the Rural Electrification Agency (REA) after they failed to appear in court for a multi-million-naira fraud case brought by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).


The ICPC had charged four REA employees with allegedly receiving about one billion naira under the pretence of false project supervision. 


When the cases were called on Thursday before Justice Emeka Nwite, Hanrrietta Onormen Okojie, Umar Musa Karaye, and Emmanuel Pada Titus were absent and they were not represented by any counsel.


ICPC counsel Dr. Osuobeni Ekoi Akponimisingha informed the court that the defendants were duly served and notified of their arraignment but chose not to appear. 


The ICPC Counsel citing Sections 114 and 184 of the Administration of Criminal Justice Act 2015 requested an arrest warrant for all three accused persons to ensure the defendants' presence at the next court date.


Justice Nwite granted the request, issuing arrest warrants and ordering the prosecution to enforce them. 

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