HYBE chairman to be referred to prosecution over alleged deception of shareholders: police
Bang Si-hyuk, chairman of K-pop powerhouse HYBE, will be referred to the prosecution this week for possible indictment on suspicion of deceiving investors into selling their stakes in his company, police said Monday. "We plan to forward the case to the prosecution within the week," Hong Seok-ki, head of the National Office of Investigation, told a press briefing. Bang is accused of violating the…
According to police, HYBE chairman Bang Si-hyuk will be referred to the prosecution within the coming week for potential indictment on charges related to deceiving shareholders. Hong Seok-ki, the head of the National Office of Investigation, announced this during a press briefing. The investigation into Bang's alleged violation of the Capital Markets Act, which involved misleading investors into selling their stakes in HYBE before the company's IPO in 2019, began in December 2024 and intensified in July of last year.
This investigation included a search of HYBE headquarters. The police were granted supplementary investigations by the prosecution but had two requests for arrest warrants denied. Police sources suggest that Bang's case is highly likely to be referred to the prosecution, though detention is not anticipated.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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