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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SOUTH AFRICA'S ANC EXPELS FORMER PRESIDENT ZUMA FROM THE PARTY. (PHOTO).

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 South Africa's ANC expels former president Zuma from the party


South Africa’s former President Jacob Zuma has been expelled from the African National Congress (ANC), the party he once led.


The expulsion comes after the ANC announced it had suspended Zuma’s membership on January 29 this year, following Zuma’s declaration of support for a newly formed rival political party, uMkhonto WeSizwe Party (MK party), in December 2023.


MK responded to media reports that Zuma had been expelled in a statement earlier on Monday, criticizing the ANC's process and condemning "grave injustices" against Zuma.

"President Zuma will engage his legal team to urgently determine the course of action," it said.


Mbalula said Zuma has 21 days to appeal the decision.

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