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 SECURES FINAL FORFEITURE OF TRACTORS, AUTO RICKSHAWS. (PHOTOS). #PRESS RELEASE

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 EFCC Secures Final Forfeiture of Tractors, Auto Rickshaws


Justice Haleema Saleeman of the Kwara State High Court, Ilorin has ordered the final forfeiture of two tractors and two auto rickshaws by Kayode Oyin-Zubair, a former Special Assistant on Community Intervention to ex-Kwara State governor, Abdulfatah Ahmed in favour of Self Reliance Economic Advancement Programme, SEAP in the state.


In giving the ruling on Thursday, July 24, 2025, Justice Saleeman dismissed an application filed by Oyin-Zubair, seeking to set aside an earlier interim forfeiture order on the items and upheld the arguments of EFCC’s counsel, Mustapha Kaigama in favour of the applicant, Self Reliance Economic Advancement Programme, SEAP that the assets were acquired with proceeds of unlawful activity. The forfeited items are valued at N57.4 million.


Oyin-Zubair, who served who served as an Assistant to former governor Ahmed between 2020 and 2023,  had approached SEAP to finance the procurement of 100 auto rickshaws, commonly called “tricycles” and 100 mini-buses for members of the Tricycle Owners Association of Nigeria (TOAN), National Union of Road Transport Workers (NURTW), and Road Transport Employers Association of Nigeria (RTEAN). While SEAP disbursed N192 million for the purchases, investigations revealed that N72 million in repayments made by the beneficiaries was diverted and used by Oyin-Zubair to acquire two tractors and two auto rickshaws.


The EFCC recovered the illegally acquired items in a warehouse along Fate Road, Ilorin and secured an order for their interim forfeiture.

More photos below. 





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