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...

NSCDC WARNS CONSTRUCTION FIRMS OVER FIBRE OPTIC CABLES, PUBLIC INFRASTRUCTURE DESTRUCTION. (PHOTO). #PRESS RELEASE


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NSCDC Warns Construction Firms Over Fibre Optic Cables, Public Infrastructure Destruction


By Chukwuka Ugokwe 


The Nigeria Security and Civil Defence Corps, Anambra State Command, has cautioned all road construction companies, civil engineering firms, contractors, developers, and allied operators across the State over the persistent destruction of fibre-optic cables and other critical public infrastructure during excavation and construction activities.


Commandant Maku Olatunde, the Anambra State Commandant of NSCDC, stated this during his weekly tactical digest meeting with the command's top management at the State Command Headquarters, Awka.


The NSCDC State helmsman said the warning is in line with the directive received from the Office of the National Security Adviser (ONSA) on the protection of telecommunications infrastructure and other Critical National Assets and Infrastructure nationwide.


The Command, he said, notes with grave concern the increasing incidents of damage to underground fibre-optic installations arising from negligence, poor planning, and failure to verify the presence of communication lines before excavation. 


These actions, in his words, have resulted in disruption of internet services, banking operations, emergency communications, government services, and commercial activities, thereby posing serious threats to public safety, economic stability, and national security.


Commandant Maku reiterated that under the Designation and Protection of Critical National Information Infrastructure (CNII) Order 2024, telecommunication fibre infrastructure is classified as Critical National Information Infrastructure, and any damage, whether deliberate or through negligence, constitutes a serious offence with national security implications.


"In compliance with the national directive from the Office of the National Security Adviser and pursuant to NSCDC's statutory mandate, the Command hereby directs that: all construction and excavation works in Anambra State must be preceded by proper verification of underground utilities.


"Furthermore, all Contractors must liaise with telecommunication service providers, NSCDC, and relevant government authorities in Anambra State before commencement of digging or drilling. Ignorance of the presence of fibre-optic cables or other installations shall not be accepted as a defence" he concluded.


The NSCDC State boss warned that any negligent or deliberate destruction of communication infrastructure will attract immediate arrest, investigation, and prosecution.


"The  Critical National Assets and Infrastructure Protection Department ( CNAIP)  of the Command is poised to enforce and embark on full-scale operations across the state. 


"Beyond fibre-optic cables, we will not tolerate vandalism, sabotage, or unlawful interference with any Critical National Assets and Infrastructure, including power installations, oil and gas pipelines, water facilities, rail lines, communication masts, government buildings, and all other public utilities within Anambra State."


According to him, offenders, whether individuals, corporate organisations, or government contractors, will be prosecuted under existing laws, including but not limited to the Nigeria Security and Civil Defence Corps Act 2003 (as amended 2007), and other applicable legislation on infrastructure protection and criminal damage.


"Members of the public, professional bodies, project managers, and community stakeholders are encouraged to promptly report suspicious excavation activities or vandalism of infrastructure to the nearest NSCDC formation for immediate response"


NSCDC Anambra State Command reiterated its readiness, vigilance, and zero-tolerance stance against vandalism, negligence, and sabotage of national assets and called on all law-abiding organisations to partner with the Corps in protecting the infrastructure that sustains economic growth, communication systems, and public safety.

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