On the morning of September 22, the Seoul Metropolitan Police Agency’s Financial Crime Investigation Unit summoned Bang Si-hyuk as a suspect under the Capital Markets Act. His appearance follows a previous questioning session on September 15.
According to investigators, the case stems from 2019, when HYBE was preparing for its IPO. Bang Si-hyuk is accused of misleading existing investors—including venture capital firms—by allegedly telling them there were “no IPO plans” at the time. Believing this, investors sold their shares to a special purpose company (SPC) reportedly established by a private equity fund linked to Bang.
Evidence suggests, however, that HYBE was already moving forward with IPO preparations. Authorities suspect Bang Si-hyuk profited by receiving 30% of the resale gains made through the private equity fund, allegedly amassing around ₩190 billion KRW (approx. USD 140 million) in unfair profit.
The investigation began late last year when police received intelligence regarding the scheme. The Financial Supervisory Service’s special judicial police have also been conducting a parallel probe under prosecutorial oversight.
The case is drawing significant attention given HYBE’s position as one of Korea’s largest entertainment companies, home to global acts including BTS, SEVENTEEN, and NewJeans (NJZ).
Sources: Naver
You must be logged in to post a comment.