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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NATIONAL GRID SHUTDOWN TREASONABLE- SGF. (PHOTO).

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 National grid shutdown treasonable – SGF


The Secretary to the Government of the Federation, George Akume, on Thursday, condemned the shutdown of the national grid during the suspended industrial action by organised labour.

He described the action as a treasonable felony, adding there was nowhere in the world that organised labour had shut down a country’s national grid.

The Transmission Company of Nigeria’s workers union had shut down the national grid on Monday to join the nationwide strike embarked on by the organised labour.

The organised labour went on strike to compel the government to agree on a new minimum wage for workers.

The shutdown of the national grid resulted in a nationwide blackout.

Addressing the National Executive Council of the Christian Association of Nigeria in Abuja, the SGF stated that President Bola Tinubu was making frantic efforts to rebuild the country, saying that, “they (labour) want to destroy it”.

He said, “Nowhere in the world has labour ever tampered with the national grid. It is treason! A treasonable felony is economic sabotage, you don’t do that.

“We are trying to rebuild the economy. The President is picking up, and they want to destroy it. Of what use is that to all of us? That is not the way.”

Akume also said the country’s foreign reserves were zero when the President took over, adding that there had been massive reforms under the incumbent administration.

He said, “We took over in very turbulent weather. Foreign reserves were zero but there have been massive reforms carried out by the President. One of them, which appeared to be a little bit tough for people to understand, is the subsidy removal of fuel. People should stop shouting; they need to know the actual truth.”

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