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...

CENTRAL AFRICAN REPUBLIC’S INCUMBENT PRESIDENT, A RUSSIAN ALLY, EYES A THIRD TERM IN KEY ELECTIONS. (PHOTO).


 Central African Republic’s incumbent president, a Russian ally, eyes a third term in key elections


Voters in the Central African Republic are electing a new president and federal lawmakers Sunday, with incumbent President Faustin Archange Touadéra seen as likely to win a third term after trying to stabilize the country with the help of Russian mercenaries.


Touadéra is one of Russia’s closest allies in Africa and analysts say a third term win for him would likely consolidate Russia’s security and economic interests in the country.


The Central African Republic was among the first in Africa to welcome Russia-backed forces, with Moscow seeking to help protect authorities and fight armed groups. Tensions, though, have grown this year over Moscow’s demand to replace the private Wagner mercenary group with the Russian military unit Africa Corps.


Some 2.4 million voters are registered to vote in Sunday’s national elections, which is unprecedented in scope as it combines the presidential, legislative, regional and municipal ballots.


There were initial delays with voting starting an hour late in some polling stations mostly in outlying districts of the capital, Bangui. Some voters also said they couldn’t find their names on the electoral rolls, or where they are to vote.


Provisional results are expected in a week’s time. A runoff will be held if no presidential candidate gets more than 50% of the votes cast.


Touadéra faces challenges from six candidates, including prominent opposition figures Anicet-Georges Dologuélé and Henri-Marie Dondra, both former prime ministers. 


The election is being held without the main opposition coalition, the Republican Bloc for the Defense of the Constitution, which said in October that it will boycott the election after denouncing what it called an unequal political environment. Neither Dologuélé nor Dondra are part of it.


Touadéra’s closest challenger is believed to be Dologuélé, a candidate in the 2016 and 2020 elections who has promised in his campaigns to “restore a damaged Central African Republic.” His priorities include sustained peace and economic recovery based on agriculture and other key sectors.


“President Touadéra destroyed everything. Our programme is a solid summary to get the country out of poverty. What country is this that produces nothing and exports almost nothing, except beer? We must revive the economy,” he said in a recent interview.


Analysts say Touadéra is a clear favorite after consolidating his control of state institutions in recent years, and due to the absence of strong opposition.


Backed by Russia, he has hinged his campaign on efforts to achieve peace, stability and economic recovery in the country of about 5.5 million people, long battered by conflict.


The landlocked country has been plagued by fighting between pro-government forces and armed groups, particularly since 2013 when predominantly Muslim rebels seized power and forced then President François Bozizé from office. A 2019 peace deal only partially lessened the fighting, and some of the 14 armed groups that signed it later withdrew from the agreement and continued their fighting.

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