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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OBIDIENT MOVEMENT DISMISSES RUMORS OF RIFT BETWEEN PETER OBI AND LABOUR PARTY CHAIRMAN NENADI USMAN. (PHOTO).

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 Obidient Movement Dismisses Rumors of Rift Between Peter Obi and Labour Party Chairman Nenadi Usman


The National Coordinator of the Obidient Movement, Dr. Yunusa Tanko, has debunked speculations of a rift between Peter Obi, the Labour Party’s 2023 presidential candidate, and the party’s Acting National Chairman, Senator Nenadi Usman, describing the claims as baseless propaganda.


Addressing questions about Obi’s recent appearance at the campaign flag-off for Labour Party’s gubernatorial candidate in Anambra State, Dr. George Moghalu, Tanko emphasized Obi’s unwavering commitment to the party under Usman’s leadership. “His Excellency Peter Obi has consistently affirmed that he remains a member of the Labour Party under the leadership of Senator Nenadi Usman. He has also clearly stated his support for all individuals who had previously secured the party’s ticket to contest political positions,” Tanko said in a statement on Wednesday, July 16, 2025.


Tanko dismissed rumors of Obi betraying Usman as a “false narrative” propagated by opposition elements to sow discord. He clarified that Usman and other key party stakeholders were fully aware of and supportive of Obi’s participation in the Anambra campaign event. “His Excellency, Mr. Peter Obi, is a man of integrity, known for keeping his word. His decision to support Dr. George Moghalu reflects that consistency,” Tanko added.


The coordinator noted that only credible party figures, including senators, House of Representatives members, state assembly members, and himself, have spoken on the issue, signaling a shift from divisive political tactics. He urged the public to disregard the rumors as “mere propaganda built on falsehoods” aimed at stirring controversy.


Tanko reiterated the Labour Party’s focus on unity and progress, stating, “Our focus remains on one goal: building a strong movement, a united Labour Party, and a better Nigeria. That, we shall achieve.”

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