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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COURT STOPS IBAS FROM INAUGURATING NEW RIVERS SERVICES COMMISSION MEMBERS. (PHOTO).

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 Court Stops Ibas from Inaugurating New Rivers Services Commission Members


A Rivers State High Court has barred Sole Administrator Ibok-Ete Ibas from inaugurating new members of the Rivers State Services Commission, pending judgment in a suit by suspended officials appointed by Governor Fubara. 


The claimants argue their removal was unlawful and without due process. Judgment is set for September 29, 2025.


ACCORDING TO ANOTHER SOURCE:

🚨 Court Stops Ibas From Swearing In New Rivers State Services Commission Members 🚨


A Rivers State High Court in Port Harcourt has temporarily blocked retired Vice Admiral Ibok-Ete Ibas (Sole Administrator) from inaugurating the newly confirmed chairman and members of the Rivers State Services Commission. The court’s decision comes as it prepares to deliver judgment in an ongoing lawsuit.  


⚖️ What’s the Case About?

Justice Frank Onyiri issued the order after hearing final arguments in a case filed by the suspended Chairman and members of the Commission, originally appointed by Governor Siminalayi Fubara. They’re challenging their removal, calling it unlawful and without due process.


🔹 Key Points:

✔️ The claimants (including Rev. Goodlife Iduoku Ben and others) argue they were legally appointed and confirmed by the Rivers State House of Assembly.  

✔️ They insist the Sole Administrator has no power to suspend them or appoint replacements.  

✔️ The court has ordered all parties to maintain the status quo until final judgment on September 29, 2025. 

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