Latest news with #FSS
India Today
3 days ago
- Business
- India Today
Hybe chairman faces probe over alleged fraudulent trading ahead of BTS comeback
As global titan group BTS gears up for its long-awaited full-group comeback later this year, the group's agency, Hybe, is under intense scrutiny. Founder and hairman Bang Si-hyuk is reportedly being investigated by South Korea's financial watchdog for alleged fraudulent and unfair to Korean media reports, the Financial Supervisory Service (FSS) has been probing Bang Si-hyuk's actions during Hybe's pre-IPO phase in 2019. Investigators suspect that he misled institutional investors by downplaying the likelihood of a public listing — all while preparing for it behind the scenes. He is also alleged to have entered into a profit-sharing deal with private equity funds linked to his acquaintances, reportedly earning around 400 billion won (approximately $290 million) after Hybe's blockbuster IPO in 2020. The arrangement was never officially disclosed — a possible violation of capital market FSS has not issued formal statements confirming the investigation, Hybe representative apparently replied to a query on the same with Xports News. They were quoted stating, "We cooperated with the investigative authorities' request to provide data regarding the actions of a former employee who resigned." Meanwhile, reports suggest the case may be fast-tracked to prosecutors, with a separate police probe already in BTS fans, the timing couldn't be more delicate. The group's full reunion is expected once all seven members complete their mandatory military service, with Suga set to be discharged by June 21. Jin and J-hope have already returned, while RM and V will finish service on June 10, and Jimin and Jungkook on June Hybe has reiterated that new music and performances are in development. CEO Park Ji-won said in March that the members would need time to regroup creatively, but a comeback is firmly on the Watch
The Herald Scotland
3 days ago
- The Herald Scotland
Probe leads to conviction of Scottish tea fraudster
The investigation by FSS uncovered that Robinson's misrepresentations led to financial losses totalling £584,738 for his clients. Robinson, also known as Tam O'Braan and Thomas O'Brien, was found guilty by jury at Falkirk Sherriff Court following an extensive investigation by FSS. He will be sentenced at a later date. Between January 2014 and February 2019, Robinson operated under the business name "The Wee Tea Plantation", asserting that he cultivated Camellia Sinensis tea plants at his Perthshire estate. He marketed this tea as authentically Scottish-grown and sold to high-profile clients in the hospitality sector, but in reality, the tea was sourced from wholesalers outside Scotland. Robinson further bolstered his fraudulent claims by alleging he had developed innovative techniques for cultivating tea in Scotland's climate. He also fabricated academic qualifications and industry awards to lend credibility to his story. Ron McNaughton, Head of the Scottish Food Crime and Incidents Unit (SFCIU) at FSS, commented: "This was a highly complex and protracted investigation which required a significant amount of time, expertise and coordination across our team and with partner agencies. Fraud of this nature is often difficult to detect and even harder to prove, but we were determined to pursue every line of enquiry to build the strongest possible case. 'This was not a victimless crime — individuals, businesses, and an emerging sector of genuine Scottish tea growers suffered real financial and reputational harm as a result of deliberate deception. I would like to thank the witnesses who came forward and supported the investigation; their cooperation was essential to achieving this outcome. 'It's a strong example of how partnership working and the dedication and skill of our investigative teams make it increasingly difficult for those committing food fraud to go undetected. We remain committed to protecting Scotland's food and drink sector from criminal activity and maintaining consumer trust."
Yahoo
3 days ago
- Business
- Yahoo
Fraudster conned luxury hotels and retailers out of £580k by selling fake Scottish tea
A man has been found guilty of fraud totalling almost £600,000 after he passed off ordinary tea as a premium product grown in Scotland. Thomas Robinson, 52, claimed the tea was a unique variety he had grown at his Perthshire estate using innovative techniques. Operating as The Wee Tea Plantation, he then fraudulently sold it to high-profile clients in the hospitality sector, including luxury hotels and retailers, between January 2014 and February 2019. Varieties listed on the website - which touted partnerships with train operator Caledonian Sleeper and the Royal Botanic Garden in Edinburgh - include Dalreoch White, Silver Needles, Scottish Antlers Tea, and Highland Green. Also known as Tam O'Braan and Thomas O'Brien, Robinson was found to have misled genuine Scottish tea growers by selling them plants he falsely claimed were a unique, locally-grown variety. He also bolstered his credibility by fabricating academic qualifications and industry awards. An investigation by Food Standards Scotland (FSS) found Robinson's misrepresentations led to his clients losing a total of £584,783. He was found guilty of two counts of fraud by a jury at Falkirk Sheriff Court on Thursday, and is due to be sentenced at Stirling Sheriff Court on 25 June. Read more from Scotland: In a statement, Ron McNaughton, head of Scottish food crime and incidents unit at FSS, said: "This was not a victimless crime - individuals, businesses, and an emerging sector of genuine Scottish tea growers suffered real financial and reputational harm as a result of deliberate deception." He then thanked a witness who came forward and added: "Fraud of this nature is often difficult to detect and even harder to prove, but we were determined to pursue every line of inquiry to build the strongest possible case."
South Wales Guardian
4 days ago
- Business
- South Wales Guardian
Man who sold ordinary tea as unique Scottish variety found guilty of fraud
Thomas Robinson, 52, claimed to have cultivated the tea at his Perthshire estate using innovative techniques, but in reality it was sourced from wholesalers outside Scotland. Operating under the business name The Wee Tea Plantation, Robinson fraudulently sold the tea to high-profile clients in the hospitality sector between January 2014 and February 2019. In addition, Robinson, who is also known as Tam O'Braan and Thomas O'Brien, misled genuine Scottish tea growers by selling them plants under the false pretence they were a unique, locally-grown variety. Thomas Robinson was found guilty of fraud totalling nearly £600,000 following an investigation by the Scottish Food Crime and Incidents Unit. He defrauded luxury hotels and retailers by falsely claiming to supply premium tea grown in Scotland. Read more at — Food Standards Scotland (@FSScot) May 29, 2025 He also bolstered his credibility by fabricating academic qualifications and industry awards. An investigation by Food Standards Scotland (FSS) found Robinson's misrepresentations led to his clients losing a total of £584,783. Robinson was found guilty of two counts of fraud by a jury at Falkirk Sheriff Court on Thursday. Ron McNaughton, head of Scottish food crime and incidents unit at FSS, welcomed the verdict. 'This was not a victimless crime – individuals, businesses, and an emerging sector of genuine Scottish tea growers suffered real financial and reputational harm as a result of deliberate deception. 'I would like to thank the witnesses who came forward and supported the investigation – their co-operation was essential to achieving this outcome. 'It's a strong example of how partnership working and the dedication and skill of our investigative teams make it increasingly difficult for those committing food fraud to go undetected. 'We remain committed to protecting Scotland's food and drink sector from criminal activity and maintaining consumer trust.' He added that the FSS investigation had been 'highly complex and protracted', requiring co-ordination with 'partner agencies'. He continued: 'Fraud of this nature is often difficult to detect and even harder to prove, but we were determined to pursue every line of inquiry to build the strongest possible case.' Robinson is due to be sentenced at Stirling Sheriff Court on June 25.
Rhyl Journal
4 days ago
- Business
- Rhyl Journal
Man who sold ordinary tea as unique Scottish variety found guilty of fraud
Thomas Robinson, 52, claimed to have cultivated the tea at his Perthshire estate using innovative techniques, but in reality it was sourced from wholesalers outside Scotland. Operating under the business name The Wee Tea Plantation, Robinson fraudulently sold the tea to high-profile clients in the hospitality sector between January 2014 and February 2019. In addition, Robinson, who is also known as Tam O'Braan and Thomas O'Brien, misled genuine Scottish tea growers by selling them plants under the false pretence they were a unique, locally-grown variety. Thomas Robinson was found guilty of fraud totalling nearly £600,000 following an investigation by the Scottish Food Crime and Incidents Unit. He defrauded luxury hotels and retailers by falsely claiming to supply premium tea grown in Scotland. Read more at — Food Standards Scotland (@FSScot) May 29, 2025 He also bolstered his credibility by fabricating academic qualifications and industry awards. An investigation by Food Standards Scotland (FSS) found Robinson's misrepresentations led to his clients losing a total of £584,783. Robinson was found guilty of two counts of fraud by a jury at Falkirk Sheriff Court on Thursday. Ron McNaughton, head of Scottish food crime and incidents unit at FSS, welcomed the verdict. 'This was not a victimless crime – individuals, businesses, and an emerging sector of genuine Scottish tea growers suffered real financial and reputational harm as a result of deliberate deception. 'I would like to thank the witnesses who came forward and supported the investigation – their co-operation was essential to achieving this outcome. 'It's a strong example of how partnership working and the dedication and skill of our investigative teams make it increasingly difficult for those committing food fraud to go undetected. 'We remain committed to protecting Scotland's food and drink sector from criminal activity and maintaining consumer trust.' He added that the FSS investigation had been 'highly complex and protracted', requiring co-ordination with 'partner agencies'. He continued: 'Fraud of this nature is often difficult to detect and even harder to prove, but we were determined to pursue every line of inquiry to build the strongest possible case.' Robinson is due to be sentenced at Stirling Sheriff Court on June 25.
