South Korean Police Seek Arrest of HYBE Chairman Bang Si-Hyuk Over $100M Fraud Allegations
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 involve misleading investors in 2019 by claiming that HYBE had no plans to go public, which led them to sell their shares to a private equity fund. Subsequently, the company went public, and it is believed that Bang received a significant financial benefit from this transaction. Bang's legal team has expressed regret over the arrest request, emphasizing their cooperation with the investigation. 
