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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SEN. KATUNG REACTS TO BACKLASH FROM SOUTHERN KADUNA INDIGENES, VOWS TO IMPROVE SOCIAL WELFARE PROGRAM. (PHOTO).

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 Senator Katung Reacts To Backlash From Southern Kaduna Indigenes, Vows To Improve Social Welfare Program


Senator Sunday Marshall Katung, representing Kaduna South Senatorial District, has acknowledged mistakes made during the first phase of his N100 million social welfare intervention program's disbursement. 


The intervention faced criticism from Southern Kaduna natives, alleging that most beneficiaries were loyalists, family members, and well-off stakeholders, rather than vulnerable individuals whom the program intended to benefit.


In a statement, Senator Katung took full responsibility for the lapses and assured his constituents that the second and third phases will be improved. 


Katung said he has reconstituted the disbursement committee, making specific changes to ensure a more effective and efficient program.


He reaffirmed his commitment to the progress and development of Kaduna South, promising to see through various welfare initiatives and legislative responsibilities. 


The statement reads, "Based on the feedback I received from the first phase of the social welfare intervention program's disbursement, I have taken note of the concerns raised by those genuinely committed to the progress of Kaduna South Senatorial District. Despite the urge to offer excuses for the observable lapses with the first disbursement, I take full responsibility because the buck stops at my table.


"More importantly, I want my constituents to know that the second and third phases of the welfare program would be an improvement. The disbursement committee has been rejigged with specific changes to reflect my commitment to improving on the subsequent phases.


"I have sworn my commitment to the progress and development of Kaduna South Senatorial District. This includes such welfare initiatives, alongside other interventions, within my legislative responsibilities, which I am dedicated to seeing through.


''Thank you."

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