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...

HIGHCOURT BARS AIYEDATIWA FROM SEEKING ANOTHER TERM IN 2028.(PHOTO).


 HighCourt bars Aiyedatiwa from seeking another term in 2028...


The Federal High Court sitting in Akure, Ondo State, on Thursday ruled that Governor Lucky Aiyedatiwa would be ineligible to contest for another term in office in 2028.


The suit was filed by a chieftain of the All Progressives Congress in the state, Akin Egbuwalo, who asked the court to interpret Section 137(3) of the Constitution regarding the eligibility of Aiyedatiwa and his deputy, Olayide Adelami, to contest for another term.


The defendants in the suit included the Independent National Electoral Commission, the Attorney-General of the Federation and Minister of Justice, Aiyedatiwa, Adelami and the APC.


In a judgment delivered by Justice Toyin Adegoke, the court held that Aiyedatiwa would be ineligible to stand for election in 2028, having been sworn in on December 27, 2023, to complete the tenure of the late governor, Rotimi Akeredolu, and subsequently inaugurated on February 24, 2025, after winning the November 16, 2024, governorship election.


Justice Adegoke further ruled that the processes filed by the third to fifth defendants were deemed abandoned because they failed to participate in the hearing of the suit.


Consequently, the court considered only the submissions of the plaintiff and the first and second defendants.


“If the third defendant is allowed to contest and serve another four years, that will be against the position of the law in Marwa versus Nyako, where the Supreme Court held that a president or governor cannot serve beyond eight years,” the court ruled.


The court added that it found merit in the plaintiff’s case and consequently granted all the reliefs sought.


Earlier, the Court of Appeal sitting in Abuja had dismissed an appeal filed by Aiyedatiwa challenging an earlier ruling of the Akure Federal High Court in the suit questioning his eligibility to contest the next governorship election in the state.


In a unanimous judgment delivered by a three-member panel, Justice Uchechukwu Onyemenam, who read the lead judgment, held that the trial court properly exercised its discretion when it granted an application by the plaintiff to amend his originating summons.


The appellate court ruled that Aiyedatiwa failed to demonstrate that the Federal High Court’s decision to allow the amendment caused any miscarriage of justice or denied him the right to a fair hearing.


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