Jakarta, hitclubapk3 Indonesia
—
Leader
HYBE
Bang Si-hyuk
was again questioned by the police on suspicion of violating the Financial Investment Services and Capital Markets Law.The Seoul Metropolitan Police’s financial crimes unit said Bang Si-hyuk was being questioned as a suspect.
This examination became the third investigation process on Wednesday (5/11), after fulfilling two public summons in September 2025.
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Korea JoongAng Daily
on Wednesday (5/11) reported that the police were carefully examining Bang Si-hyuk’s statement, the flow of funds surrounding the IPO, and the structure of the agreement.
The third inspection was carried out after Bang Si-hyuk was prohibited from leaving or leaving South Korea as a result of an investigation into alleged IPO fraud.The time period of the ban or further details were not disclosed.
According to police, the travel ban was imposed immediately after Bang Si-hyuk returned from a business trip in the United States on August 11.
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The Financial Crimes Investigation Division of the Seoul Metropolitan Police imposed an overseas travel ban on Bang Si-hyuk for alleged violations of the Financial Investment Services and Capital Markets Act.
Bang Si-hyuk was accused of misleading HYBE investors, including venture capital firms, in 2019 by claiming the company had no plans to go public.
He then allegedly arranged for a special purpose company (SPC), formed by a private equity fund of HYBE executives, to buy the investors’ shares.
Believing there were no plans for an initial public offering (IPO), investors sold their holdings.But in reality, HYBE was already preparing for an IPO at that time, according to the allegations.
After the IPO process, SPC sells the shares obtained.Bang reportedly received 30 percent of the profits under a pre-arranged secret deal with SPC, ultimately pocketing about 190 billion won.
In connection with this case, police raided the Korea Stock Exchange in Yeongdeungpo District, West Seoul on June 30, and seized documents related to HYBE’s IPO review.
On July 24, they also ransacked HYBE’s headquarters in Yongsan District, central Seoul.
(chri)
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