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Police Seek Arrest Warrant for Hybe Chairman over Alleged Unfair Stock Trading
Police say Bang Si-hyuk misled early investors before HYBE’s IPO and gained about 190 billion won through a side deal, according to investigators.
- On Tuesday, the Seoul Metropolitan Police Agency confirmed it asked prosecutors for an arrest warrant for Hybe Chairman Bang Si-hyuk, expanding an investigation into an investor fraud scheme.
- Investigators allege Bang misled investors in 2019 by claiming Hybe had no plans to go public, inducing them to sell shares to a private equity fund before the company proceeded with an IPO.
- Police believe a side deal may have paid Bang around 200 billion won, or $136 million, promising him 30 per cent of post-IPO stock sale profits.
- Legal troubles for Bang represent a significant public relations setback for Hybe, as representatives of the agency did not immediately respond to requests for comment.
- Beyond BTS, Bang oversees popular acts including Seventeen, Sserafim, and Katseye as the group prepares to kick off a series of events in Tampa, Florida, later this month.
76 Articles
76 Articles
The Seoul Metropolitan Police Agency confirmed that the prosecution requested the arrest of Bang Si-hyuk, founder of HYBE, the BTS agency, accused of fraud against investors for more than 190 billion won. The order represents a severe blow to the k-pop industry and comes at the very beginning of the BTS world tour after four years of pause. Bang Si-hyuk's legal team denied irregularities and assured that it will cooperate with the authorities to…
Seoul police seek arrest warrant for HYBE founder Bang Si‑hyuk over IPO stock-trading probe
by Elena Vance - Seoul police ask prosecutors to seek arrest warrant for HYBE founder Bang Si‑hyukSeoul — The Seoul Metropolitan Police Agency on April 21 requested that prosecutors seek an arrest and detention warrant for Bang Si‑hyuk, the founder and chairman of HYBE, on suspicions ...
Bang Si-hyuk, Chair Of BTS Agency HYBE, Faces Arrest In South Korea
South Korean police are seeking an arrest warrant for Bang Si-hyuk, the chair of BTS agency HYBE, over an alleged investor fraud scheme. The music mogul is facing arrest after the Seoul Metropolitan Police Agency expanded an investigation alleging Bang illegally gained more than $100M, requesting a court warrant from Bang’s arrest, the Associated Press […]
BTS Agency Hybe Founder Bang Si-hyuk Faces Detention as Seoul Police Seek Arrest Warrant
Seoul police have applied for a warrant to detain Bang Si-hyuk, chair and founder of Hybe, over alleged securities fraud tied to the K-pop conglomerate’s public listing, Reuters reported. Bang established Hybe – then known as Big Hit Entertainment – in 2005, building it into the most powerful company in the K-pop industry. The Seoul-based […]
Bang Si-Hyuk is considered one of the most powerful figures in K-pop, partly due to the worldwide success of the seven-member band BTS, the most famous pop group from South Korea of all time.
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