Seoul police referred Bang Si-hyuk, chairman of HYBE, to prosecutors Thursday over allegations that he lied to early investors before the company’s listing. He is accused of unfair trading under the Capital Markets Act, and police did not seek an arrest warrant. Financial authorities put his alleged improper gains at nearly 200 billion won, while Bang has denied wrongdoing. Prosecutors are expected to review the police file before deciding on indictment.
HYBE Chairman Bang Si-hyuk appears at the Seoul Metropolitan Police Agency's financial crime investigation unit in Mapo District, Seoul, Sept. 15, 2025, for questioning over alleged violations of the Capital Markets Act's ban on unfair trading. Korea Times file
Seoul police referred Bang Si-hyuk, chairman of HYBE, the entertainment giant behind boy band BTS, to prosecutors Thursday over allegations that he deceived early investors in the agency into selling their stakes before the company went public.
Police did not request an arrest warrant for him.
Bang is accused of unfair trading in violation of the Capital Markets Act. The police alleged that in 2019, when HYBE was still known as BigHit Music, he told existing shareholders that the company had no plans for an initial public offering, prompting them to sell their shares to a special purpose company set up by a private equity fund tied to him, even as BigHit was already moving through preliminary listing procedures.
