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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RIVERS STATE LOCAL GOVT ELECTIONS POSTPONED TO AUGUST 30, 2025.(PHOTO).

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 Rivers State Local Government Elections Postponed to August 30, 2025


The Rivers State Independent Electoral Commission (RSIEC) has rescheduled the state’s local government elections to August 30, 2025, following a significant shake-up in the state’s electoral and political landscape.


Dr. Michael Ekpali Odey, the newly appointed RSIEC Chairman, announced the postponement during his address at the unveiling of the revised election timetable on Monday. The elections were initially set for August 9, 2025, under the former RSIEC Chairman, Retired Justice Adolphus Enebeli, before his commission was dissolved.


The dissolution of the RSIEC board was ordered by Retired Vice Admiral Ibok-Ete Ibas, the Sole Administrator of Rivers State, who was appointed by President Bola Ahmed Tinubu. The directive came as part of emergency measures following the President’s declaration of a state of emergency in Rivers State. Additionally, President Tinubu suspended Governor Siminalayi Fubara, Deputy Governor Professor Ngozi Nma Odu, and all members of the Rivers State House of Assembly.


The announcement was made in the presence of key stakeholders, including leaders of registered political parties, traditional rulers, security agencies, religious bodies, media, professional associations, civil society groups, non-governmental organizations, community-based organizations, and members of the electorate.


The postponement marks a significant development in Rivers State’s political landscape as stakeholders await further updates on the electoral process.

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