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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MANY FEARED DEAD AS BOAT SINKS IN BAYELSA. (PHOTO).

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 Many feared dead as boat sinks in Bayelsa


Many persons are believed to have died as fire burnt and sank a boat, Godbless Dickson, between Ekeni and Ukubie communities in Southern Ijaw Local Government Area of Bayelsa State at about 5.30am on Wednesday.


Chairman of the Maritime Workers Union of Nigeria, Bayelsa State Chapter, Ipigansi Ogoniba, said on Thursday that the boat was carrying about 64 persons at the time of the incident, but several persons swam to safety.


Ogoniba said it would be difficult to state the exact number of those who died or survived until much later when he receives reports from boats and local divers engaged in ongoing rescue efforts.


The Yenagoa bound boat usually carried traders who ply their wares from one riverine market to the other and returned to Yenagoa in time for Monday and Thursday, the market days of the Swali Ultra Modern Market.


It is not immediately clear what caused the incident, but it is believed that it started from improper handling of petrol close to the onboard engine.


Ogoniba said, “If anybody says that 18 or 20 persons died, they will be lying because we cannot say for now how many people died or survived.


“The boat carries about 64 persons including load like garri, beans and rice. It moves from community to community where the traders sell their goods and returns on Sunday or Wednesday to meet the market here.


On the return journey, it carries people from town to town; many people join the local boat because it is cheap compared to a speedboat where you pay N12,000 from Ezetu to Yenagoa.


In her reaction, Chairperson of Association of Coastal and Waterways Communities of Nigeria, Bayelsa State, Odede Denikpete Tina, blamed the incident on the refusal of boat operators in the state to observe safety regulations such as putting on of life jackets.


Odede also pleased with the state government to make more effort in connecting more riverine communities by road to minimise the need for water transport.


Confirming the incident, the Police Public Relations Officer, Musa Mohammed, said the local boat was travelling from Ekeni to Yenagoa when the incident took place claiming about 20 lives.


Mohammed said rescue efforts were ongoing at the scene of the incident.

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