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South Korean Police Seek Indictment of K-Pop Mogul Behind BTS
Police say Bang Si-hyuk may have gained up to 262.6 billion won from undisclosed listing-related transactions, according to investigators.
- The Korean National Police Agency referred HYBE Chairman Bang Si-hyuk to prosecutors on Thursday, concluding an investigation into the company's 2020 stock market listing without seeking his detention.
- Bang allegedly misled early investors in 2019 about IPO plans, prompting them to sell stakes to a private equity fund tied to him before the company went public.
- Financial regulators estimate Bang's improper gains at nearly 200 billion won ; prosecutors rejected two police arrest requests earlier this year, prolonging the investigation.
- Prosecutors will now review the police file to decide whether to indict Bang, who maintains the listing complied with all relevant regulations and laws.
- The referral precedes an October 2 legal system shift in South Korea that transfers prosecution powers; HYBE posted Q2 2026 revenue of approximately $967 million despite the ongoing case.
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Associated Press News+17 Reposted by 17 other sources
South Korean police seek indictment of K-pop mogul behind BTS
South Korean police are pushing for an indictment of music tycoon Bang Si-Hyuk, chairperson of the agency behind K-pop supergroup BTS, over alleged investor fraud.
·New York, United States
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K-Pop Billionaire Bang Referred to Prosecutors, Yonhap Says
South Korean police shared with prosecutors the findings of a long-running investigation into BTS agency Hybe Co. founder Bang Si-hyuk over allegations he misled investors ahead of the company’s 2020 listing.
·New York, United States
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Total News Sources44
Leaning Left9Leaning Right4Center14Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 33%
C 52%
15%
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