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...

LASG WARNS RESIDENTS OF STATE-OWNED HOUSING ESTATES AGAINST CONTRAVENTION OF RULES, REGULATIONS. (PHOTOS). #PRESS RELEASE.


 LASG WARNS RESIDENTS OF STATE-OWNED HOUSING ESTATES AGAINST CONTRAVENTION OF RULES, REGULATIONS 


As part of the sustainability of State Government Owned Housing Estates, the Permanent Secretary, Ministry of Housing, Engr. Abdulhafis Toriola has issued a warning to residents of State Government-Owned Housing Estates against contravening all well-known guidelines (rules and regulations) of the Lagos State Government.


He solicited voluntary compliance with the guidelines to drive housing estates growth, emphasising that compliance with existing rules is vital for enabling sustainable development and economic growth of the state.


Furthermore, the Permanent Secretary reiterated that it is the civic responsibility of the residents of State Government-Owned Housing Estates to comply with the existing guidelines written in their Letter of Allocation, Memorandum of Understanding and Deed of Sublease. 


Engr. Toriola also called for total compliance with estate guidelines in a meeting held with the representative of the executive members of Oba Adeyinka Oyekan Housing Estate Residents Association, which was led by Barrister Oyeronke Oyetunde in his office.


He said that estate sustainability is our watchword; this can be achieved through the involvement and implementation of state government policies, programmes, and initiatives designed to deliver eco-friendly and sustainable homes for individuals within the state.


The Ministry’s Permanent Secretary, Engr. Abdulhafis Toriola, who was represented by the Director, Legal Services, Barrister Bukade Idowu-Koya, emphasised that the initiatives of compliance with guidelines in line with the present Administration THEMES Plus Agenda, with regards to making Lagos a 21st-century economy and good governance, with the efforts to sustain estates with global standards.


The Permanent Secretary concluded by advising the good residents of various State Government-owned housing estates to always obey the well–known guidelines of the State Government.


Following some observations made by the Executives of Oba Adeyinka Oyekan Housing Estate Residents Association, Barr. Idowu–Koya stated that the future of their estate rests on the compliance of residents with well–known guidelines.  She urged the Association’s Executives that the Ministry’s technical and monitoring & compliance teams will visit the estate for a joint inspection with estate residents.


Speaking at the meeting, the Assistant Head of the Monitoring and Compliance Unit, Bldr. Rasidat Ogunlaja highlighted some of the guidelines, such as repainting of external walls, defaulting on service charges, rebuilding and erection of illegal structures, conversion of residential homes to commercial purposes, environmental hazards, as well as subletting of home units, etc. 


She also said that the State Government now has zero tolerance for contravention of the guidelines of the housing estates and those who have turned the setback land of the estates into a marketplace or for illegal purposes.


Ogunlaja also called on the residents to note that the estates were built and designed according to the environmental status of the area and also alerted all contravening residents of the State Government-owned estate to visit the Ministry of Housing, Alausa and apply for approval and regularisation if need be.


Also present at the meeting were the former vice chairman/ex-officio of Oba Adeyinka Oyekan Housing Estate, Alhaja Kudirat Moyosore-Brimidi; ex-officio, Mr. Philip Ugbe and Facility Manager, Mr. Moronike Elijah, among others.

More photos below. 



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