US EditionPolice 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.
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97 Articles
Police move to arrest BTS mogul Bang Si-hyuk
Seoul: South Korean police said Tuesday they are seeking to arrest music mogul Bang Si-hyuk, chairman of the agency behind K-pop supergroup BTS, as they expand an investigation into allegations that he illegally gained more than $100 million through an investor fraud scheme.The Seoul Metropolitan Police Agency confirmed it has asked prosecutors to request a court warrant for the arrest of Bang, the billionaire founder and chairman of Hybe.In a s…
South Korean police announced that they are seeking to arrest music tycoon Bang Si-hyuk, founder and president of the Hybe agency, as part of an investigation into alleged fraud against investors that would have generated more than $100 million in profits.
PBS NewsHour
UpstractSouth Korean police seek to arrest K-pop mogul behind BTS over alleged fraud
South Korean police said Tuesday they are seeking to arrest music mogul Bang Si-Hyuk, chairman of the agency behind K-pop supergroup BTS, as they expand an investigation into allegations that he illegally gained more than $100 million in an investor fraud scheme.
The South Korean Police requested an arrest warrant against Bang Si-hyuk, president of Hybe, a company behind global phenomena such as the BTS group.According to South Korean agency Yonhap, the authorities accuse the executive of having deceived investors in the run-up to the company's stock market.This is a case that could have million-dollar implications and affect the reputation of one of the most influential Asian entertainment firms in the …
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