South Korean Police Seek Arrest of Hybe Chairman Bang Si-Hyuk Over Alleged $100M Fraud
South Korean police are pursuing the arrest of Bang Si-Hyuk, the chairman of Hybe, the agency behind the globally renowned K-pop group BTS. The Seoul Metropolitan Police Agency has requested a court warrant for Bang's arrest as part of an investigation into allegations that he illegally gained over $100 million through an investor fraud scheme. The accusations suggest that Bang misled investors in 2019 by claiming Hybe had no plans to go public, leading them to sell their shares to a private equity fund. Subsequently, Hybe went public, and it is alleged that Bang received a significant financial benefit from a side deal with the fund. Bang's legal team has expressed regret over the arrest request, emphasizing their cooperation with the investigation and denying any wrongdoing. 
