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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POLICE ARREST TWO SUSPECTS FOR DIVERTING AND CONVERTING CEMENT SHIPMENTS ACROSS FOUR STATES. (PHOTO). #PRESS RELEASE.

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 ANAMBRA STATE POLICE COMMAND

PRESS STATEMENT

30th June, 2025


POLICE ARREST TWO SUSPECTS FOR DIVERTING AND CONVERTING CEMENT SHIPMENTS ACROSS FOUR STATES


The Anambra State Police Command, in its continued efforts to combat economic and cyber-related crimes, has arrested two suspected fraudsters involved in the diversion and illegal conversion of cement shipments across Anambra, Edo, Rivers, and Delta States.


The suspects, identified as Mr. Mmaduabuchi Udo and Mr. Abubakar Babangida, were apprehended by operatives of the CP Monitoring Unit on 23rd June 2025 in Abuja, following an intelligence-led investigation.


Preliminary investigations reveal that the suspects specialized in using social media platforms to profile cement dealers and extract sensitive operational information from unsuspecting victims. They allegedly leveraged this data to facilitate the diversion of cement consignments intended for legitimate businesses.


The arrest underscores the need for vigilance when sharing business-related information online, especially on social media, which continues to be exploited by criminal syndicates.


The suspects are currently cooperating with investigators and have provided useful information that is aiding efforts to identify and apprehend other members of the syndicate. Upon the conclusion of the investigation, the suspects will be arraigned in court.


The Commissioner of Police, Anambra State Command, reassures the public of the Command’s commitment to protecting lives, property, and economic interests in the state. Members of the public are urged to report suspicious activities to the nearest police station or through the Command’s emergency contact lines.


SP Tochukwu Ikenga

Police Public Relations Officer

Anambra State Police Command

Awka

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