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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RE: ALLEGATIONS OF FORCEFUL TAKEOVER .(PHOTO).#PRESS RELEASE.

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 RE: ALLEGATIONS OF FORCEFUL TAKEOVER 



The attention of the Lagos State Building Control Agency (LASBCA) has been drawn to allegations posted online by some residents of Kenneth Odidika Close in Eti-Osa Local Government Area of Lagos State, accusing LASBCA of allegedly colluding with some individuals to forcefully take over lands in the area.


The accusations orchestrated by Mr. Kenneth Odidika, a lawyer and owner of a structure at 5, Kenneth Odidika Close, off Ologolo Road, off Lekki-Epe Expressway, Maiyegun, Lekki, Lagos


A statement issued on Tuesday by LABSCA said it is on record that some structures erected on that axis, especially that at 5, Odidika Street, were identified to have been erected contrary to the planning standards and Regulations, hence the service of enforcement notices requesting for the development permit and other building control documents the Agency.


It explained further that, in response to the notices served on the structures in the area including the one owned by Mr. Kenneth Odidika, the Agency received some development permits from the owners, however, the one issued for the structure owned by Mr. Kenneth Odidika was in the name of Karen & Keith Investment Ltd. 


Upon scrutiny of the said development permit submitted by him to the Agency, it was found that the developer grossly violated the approval granted to him. Wherein he was to erect a bungalow for residential purposes, he erected a two-floor structure and converted it to an office. In addition, the developer also violated the setback and airspace standards. 


The release maintained that LASBCA only served enforcement notices to compel compliance with the regulatory provisions of the law but did not harass or threaten the developer contrary to his allegation. 


According to the statement, “The Agency is not aware of any Order of Court or litigation restraining the Agency from carrying out its statutory function of enforcing the Building Control Regulations on the site. There is therefore no basis for the allegation made against the Agency that it disobeyed a Court order or Governor's directive”.


“It is also expedient to state that it is not the statutory responsibility of the Agency to regularise the illegal and non-conforming structure of the developer and no document was submitted to LASBCA for regularisation that was refused as alleged”, it added,

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