After months of delays, a conclusion finally looks close.
Koreaboo
3 hours ago
The long-running investigation into HYBE chairman Bang Si Hyuk is finally nearing a turning point.
According to Seoul police, the case — centered on alleged “fraudulent unfair trading” — has now reached its final stages. Authorities revealed that the legal review is “almost complete,” suggesting a decision could come sooner rather than later.
Commissioner Park stated, ‘The legal review is nearly complete. We believe a conclusion could be reached in the not-too-distant future.‘ When asked about the possibility of seeking an arrest warrant, he replied, ‘We are reviewing that as well.‘
— EDaily
| Billboard
The HYBE chairman has been under investigation for over a year. During that time, he was questioned five times as a suspect. Police also carried out multiple raids, including on HYBE’s headquarters and the Korea Exchange, to gather evidence tied to the company’s IPO process.
At the core of the case are allegations that Bang misled existing shareholders in 2019. Investigators believe he may have suggested HYBE’s listing would be delayed, despite internal preparations moving forward. This reportedly allowed him to buy shares at a lower price, securing profits worth around ₩190 billion KRW (about $126 million USD).
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There are also suspicions involving a private equity fund linked to HYBE insiders. Bang is accused of encouraging shareholders to sell their stakes to a special purpose company connected to that fund.
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Police are now reportedly reviewing whether to pursue an arrest warrant alongside their final decision.