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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LSMTL TO SANCTION FAKE MATERIALS TESTING AGENTS. (PHOTO). #PRESS RELEASE

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 To Commence Electronically Generated Geographic Information Systems

 

The General Manager of the Lagos State Materials Testing Laboratory Agency (LSMTL), Engr. Olayinka Abdul has disclosed that stiffer measures will be meted out to agents in the rebranding process of testing building materials in Lagos State

 

Speaking recently at a meeting with some Consultants on Malpractices identified in conducting extant rules against the Agency, Engr. Olayinka stated that the LSMTL will not back down on ensuring compliance with guidelines for buildings’ safety in Lagos State.

 

She said, “An overhaul of the processes of engagements and service delivery exerted in conducting Materials tests across Lagos State is underway. These new orders of operations will adequately curb every form of mismanagement encountered so far and make sure there is transparency and absolute customer satisfaction”.

 

Furthermore, Engr. Abdul informed that for seamless service devoid of sharp practices, all Consultants affiliated to LSMTL, in serving notices for Materials tests on projects, will be listed on the Official Website for feasibility and credibility in restoring confidence of Professionalism to Prospective Clientele.

 

She averred that the upcoming overhauling process by the Agency will include the use of an Electronic Geographic Information System to sort operational modes of testing building materials to curb discrepancies orchestrated by saboteurs, as Consultants will henceforth work through designated codes/zones to fill the Agency’s operational space.

 

Engr. Abdul reiterated that in fulfilling the mandate of the Lagos State Government’s T. H. E.M.E.S Plus Agenda, stakeholders in the riverine communities of Lagos State should be wary of using soil materials in such geographical areas, for they have salt constituents that erode and weaken the steel capacity used in construction processes.

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