Netizens are complaining of deliberate delays.
12 minutes ago
HYBE founder and chairman Bang Si Hyuk is reportedly facing supplementary investigations over alleged fraudulent trading.
Bang Si Hyuk
On April 2, KST, during a press briefing held at the National Police Agency headquarters in Seoul, a police official revealed that the authorities were conducting an additional review and supplementary investigation to ensure a well-rounded probe.
When asked about the reason for the delay in making a decision on Bang’s case, the official stated that there are not many legal precedents or similar cases involving the violation of the Capital Markets Act.
Court Orders Seizure Of Bang Si Hyuk’s Assets Worth Over 100 Million Dollars
One of the central issues in this case is the severity of the potential penalties. If it turns out that Bang derived profits or avoided losses through unfair trading exceeding ₩5.00 billion KRW (about $3.31 million USD), he could face a prison sentence of at least five years up to life imprisonment.
If the courts decide to impose a fine, it might be set at three to five times the illicit gains. Given that currently the sum under scrutiny is around ₩400 billion KRW (about $265 million USD), the penalty could easily surpass ₩1 KRW (about $0.00 USD).
The news of this possible penalty has sparked heated responses, with many demanding swift action to ensure justice.
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- “With terabytes of evidence, nearly 200 billion won in shares frozen, and an accomplice who fled to the U.S., is this really something that should be dragged out just because the suspect is exercising the right to remain silent? Why hand over all investigative authority to such an incompetent police force? If this isn’t truly collusion between politics and business, then what is?”
- “No wonder they feel emboldened to commit fraud. With the Minister of Culture still backing them up, and the Prime Minister and President treating them so leniently, what can ordinary police really do to push the case forward or secure an indictment? They’re all the same. As long as they each enjoy their benefits during their term, that’s all that matters.”
- “The public is watching. Don’t even think about dragging this out and quietly dropping it.”
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- “What is Lee Jae Myung doing after saying that stock price manipulation would lead to total ruin?”
- “Even just looking at the publicly available evidence, it seems airtight. Why is the investigation taking so long? At the very least, arrest them first. Is this really a country where a major economic crime suspect can roam freely, enjoying wealth and privilege?”