- Police seek arrest warrant for HYBE chairman Bang Si-Hyuk.
- Probe alleges illegal stock trading tied to company’s IPO.
- Investigators suspect misleading early investors, profiting from share sales.
- Legal action coincides with BTS’s global comeback tour.
The man widely credited with helping turn BTS into a worldwide phenomenon is now facing one of the biggest crises of his career. South Korean police have moved to seek an arrest warrant for Bang Si-Hyuk, chairman of HYBE, as investigators intensify a probe into alleged illegal trading linked to the company’s stock market debut.
The case arrives at a sensitive moment, with BTS actively returning to the global stage after years of military service-related hiatus.
Police Request Arrest Warrant For HYBE Chairman
The Seoul Metropolitan Police Agency confirmed on Tuesday that it has asked prosecutors to seek a court-issued warrant for Bang’s arrest.
Authorities suspect Bang of breaching capital market laws during the lead-up to HYBE’s initial public offering. Investigators claim early investors were allegedly misled into believing the company had no plans to list publicly, prompting them to sell shares to a private equity fund said to be connected to his associates.
Police further allege that once HYBE went public, the fund later sold its holdings and Bang received around 30% of the profits under an earlier shareholder agreement. Investigators estimate the gains at roughly 190 billion won (approx Rs 1,200 crore).
Bang has previously denied wrongdoing.
HYBE Responds To Legal Developments
In a statement issued through Bang’s legal team, HYBE said on Tuesday, “We regret that a detention warrant has been sought despite our full and consistent cooperation with the investigation over an extended period. We will continue to cooperate with all legal procedures and make every effort to clearly explain our position”.
Representatives of the company had not immediately offered further comment.
Travel Ban Also Reported
Bang has reportedly been barred from leaving South Korea since August last year. According to police, a letter had sought a temporary suspension of that restriction so Bang and other executives could attend an event marking U.S. Independence Day and hold discussions connected to BTS’s ongoing global tour.
The U.S. embassy in Seoul said it had no additional comment on the matter.
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BTS Continue Global Comeback Tour
The timing is notable as BTS continue their highly anticipated return to live performances. The group recently staged a free comeback concert in Seoul attended by tens of thousands of fans, followed by shows in Goyang and Tokyo.
They are also scheduled to begin a run of U.S. events later this month, starting with a concert in Tampa, Florida.
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