Police have requested an arrest warrant for Bang Si-hyuk on allegations of fraudulent unfair trading.
On the 21st, the Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit announced that it had applied for the warrant, citing suspected violations related to investor deception.
According to police, in 2019 Bang allegedly informed HYBE investors that there were no plans for a public listing, which led them to sell shares to a specific private equity fund. Following HYBE’s eventual IPO, the fund sold its stake, and Bang reportedly received 30% of the profits under a prior agreement, amounting to approximately 190 billion KRW.
Bang is currently under a travel ban as the investigation continues. Separately, the U.S. Embassy in Seoul recently sent a request to the National Police Agency seeking cooperation to allow his travel to the United States, citing reasons including activities related to BTS.
The case remains under investigation as authorities review the circumstances surrounding the alleged transactions.