South Korean Prosecutors Reject Arrest Warrant for K-pop Mogul Bang Si-Hyuk Amid Fraud Investigation
South Korean prosecutors have denied a police request for an arrest warrant for Bang Si-Hyuk, the chairman of Hybe, the agency behind the globally renowned K-pop group BTS. The Seoul Metropolitan Police Agency had sought the warrant as part of an investigation into alleged investor fraud involving Bang. The Seoul Southern District Prosecutors’ Office found the request insufficient to justify detention, advising police to strengthen their case. Bang is accused of misleading investors in 2019 by suggesting that Hybe had no immediate plans to go public, leading them to sell shares to a private equity fund. This occurred shortly before Hybe's initial public offering. Allegations suggest Bang received approximately 200 billion won ($135 million) in a side deal promising him 30% of post-IPO stock sale profits. Bang, who has been barred from leaving South Korea since August, denies any wrongdoing and has been cooperating with the investigation. 
