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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REPS WITHDRAW BILL SEEKING JAIL TERM FOR THOSE REFUSING TO RECITE NEW NATIONAL ANTHEM. (PHOTO).

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Reps Withdraw Bill Seeking Jail Term For Those Refusing To Recite New National Anthem. 


 Speaker of the House of Representatives, Abbas Tajudeen has withdrawn the controversial Counter Subversion Bill which stipulates that any Nigerian who refuses to recite the national anthem shall be fined N5 million, face a 10-year prison sentence, or both.


 The withdrawal followed the outrage and opposition that trailed the provisions of the planned legislation which many have described as draconian and anti-democratic. The Bill, sponsored by Speaker Tajudeen Abbas, is set for its second reading, where its general principles will be debated. 


According to the proposed legislation, anyone who destroys a national symbol or a place of worship shall be liable to the same punishment. The Bill “stipulates that anyone found guilty of destroying national symbols, refusing to recite the national anthem and pledge, defacing a place of worship with intent to incite violence, or undermining the Federal Government shall face a fine of N5 million, a 10-year prison sentence, or both”. The Bill also “states that anyone who sets up an illegal roadblock, performs unauthorised traffic duties, imposes an illegal curfew, or organises an unlawful procession will be subject to a fine of N2 million, five years in prison, or both upon conviction”. Also, any person who “forcefully takes over any place of worship, town hall, school premises, public or private place, arena, or a similar place through duress, undue influence, subterfuge or other similar activities, commits an offence and is liable on conviction to a fine of N5 million or imprisonment for a term of 10 years or both”. “A person who professes loyalty, pledges or agrees to belong to an organisation that disregards the sovereignty of Nigeria, commits an offence and is liable on conviction to a fine of N3 million or imprisonment for a term of four years or both,” it also added among others.

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