South Korean Police Seek Arrest of BTS Agency Founder Bang Si-hyuk Over IPO Fraud Allegations
Bang Si-hyuk, the founder and chairman of Hybe, the agency behind the globally successful K-pop group BTS, is facing potential arrest. South Korean police have moved to secure a warrant for his detention as part of an investigation into alleged fraudulent activities during Hybe's 2020 initial public offering (IPO). The Seoul Metropolitan Police Agency's financial crimes unit has charged Bang with fraudulent and unfair trading, claiming he violated the Capital Markets Act by securing approximately $129 million in illicit gains. The allegations center around a private equity arrangement that purportedly misled early investors, allowing Bang to profit significantly. Bang has denied any wrongdoing. The investigation, which began in December 2024, has seen Bang barred from leaving South Korea since August of the previous year. Hybe's shares fell by 2.9% following the news of the warrant request. 
