Bang Si-hyuk, founder of BTS agency Hybe, referred to prosecutors: Report
The police allege he misled investors ahead of the company’s 2020 listing.
South Korean police have handed over findings from a long-running probe into BTS agency Hybe's founder, Bang Si-hyuk, to prosecutors, amid accusations that he misled investors prior to the company's 2020 listing. The Seoul Metropolitan Police Agency forwarded the case to the Seoul Southern District Prosecutors' Office, alleging deception under the Capital Markets Act. Authorities also obtained a court order to freeze 263.1 billion won in purported illicit profits tied to the case.
Bang was previously sought for arrest twice in 2026 but both requests were denied by prosecutors, who have ordered further investigation. Despite denying any wrongdoing, Bang has faced an overseas travel ban since August 2025. His legal team maintains they have consistently countered the allegations with objective evidence and facts, expecting full and transparent resolution through the legal process.
According to police, Bang allegedly encouraged existing shareholders to sell their shares in the unlisted company to a private equity fund, claiming the firm had no plans to go public. Authorities believe Bang pocketed roughly 190 billion won from these transactions, including through an arrangement entitling him to 30% of the fund's profits upon later sale of Hybe shares.
Bang, estimated to be worth $1.4 billion according to Bloomberg Billionaires Index, has been under investigation for over a year after the Financial Services Commission referred the case to police in July 2025.
South Korea's capital markets law forbids financial gains through false statements or deceptive schemes, with violations involving gains of at least 5 billion won punishable by a minimum of five years in prison.
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