Police seek arrest warrant for HYBE chairman Bang Si-hyuk
Police have sought an arrest warrant for HYBE Chairman Bang Si-hyuk, officials said Tuesday, April 21.
The Seoul Metropolitan Police Agency’s financial crimes investigation unit said it has booked Bang on charges of fraudulent and unfair trading and is moving to secure his custody.
The move comes just a day after Seoul Metropolitan Police Agency Commissioner Park Jung-bo said during a press briefing that the investigation into Bang was “essentially complete” and could be concluded in the near future.
Bang has been under investigation by the police on suspicion of violating the Capital Markets Act. He is accused of securing illicit gains worth about 190 billion won ($129 million) during Hybe’s 2019 initial public offering process.
He has been under a travel ban since August last year as the investigation continued. /ra
