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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EFCC ARRESTS FIVE CHINESE FOR ALLEGED ILLEGAL MINING IN UYO. (PHOTO).#PRESS RELEASE

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 EFCC Arrests Five Chinese for Alleged Illegal Mining in Uyo


Operatives of the Uyo Zonal Directorate of the Economic and Financial Crimes Commission EFCC, have arrested five suspected illegal Chinese miners at Ndito-Eka-Iba village, in Ibieno Local Government Area of Akwa Ibom State.


The five alleged illegal miners  were arrested by the “Special Task Force on illegal Mining” at the Commission’s Zonal  office in Uyo, following credible intelligence on the illegal activities of foreign mining companies within Eket and Ibieno Local Government Areas of Akwa Ibom State.  


The arrested Chinese suspects are: Zhon Qinping arrested on September  10, 2024 at Ibieno Local Government Area, while Li Yi, Xie Bin, Chen Mou Zhou and  Chen Zeng were arrested on August 29, 2024 at the same location.


They were all arrested at an illegal mining site of a mineral suspected to be ilmenite, a titanium- iron oxide mineral.


The suspects would be charged to court as soon as investigations are concluded. 

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