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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WE CAN HANDLE LG ELECTIONS- INEC. (PHOTO).

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 We can handle local government elections – INEC


The Independent National Electoral Commission, INEC, says it can comfortably handle the conduct of local government elections if the responsibility falls on it.


The Chairman of the Commission, Prof Mahmood Yakubu, stated this on Thursday when he appeared before the joint Senate and House of Representatives Committee on Electoral Matters over preparations for the upcoming governorship elections in Edo and Ondo States.


According to him, INEC has the capacity to handle the local government elections but that would only be possible pending when the law is amended to permit it to do so.


He explained that the Commission had been conducting area council elections in the Federal Capital Territory which has been devoid of the problems associated with the conduct of local government elections in the states.


He also pointed out some advantages of INEC handling LG elections to include regular elections as at when due, stability of tenure. He also noted that there has never been a LG caretaker committee in the FCT.


Yakubu further noted that there has never been a time one political party has won all the seats in the FCT as is common in the states.


According to him, if INEC handles the election, it would be better for democracy.


He, however, said this can only happen if the Constitution is amended to take the responsibility away from state electoral commissions.

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