Ex-South Korea President Yoon Suk Yeol's arrest approved by court over martial law declaration

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News18

5 hours ago

• News18

The Man Behind BTS To Be Jailed? Hybe Founder Faces Fraud Allegations

Last Updated: If found guilty and the gains exceed 5 billion KRW (approximately $3.64 million), Hybe founder could face life imprisonment or a minimum of five years in prison. The man behind the globally popular K-pop group, BTS, has landed in big trouble. Bang Si-hyuk, founder and chairman of Hybe – the South Korean entertainment company which handles BTS, has been accused of indulging in fraudulent activities. As reported by allkpop, Bang has been accused of engaging in fraudulent and unfair trading under the Capital Markets Act. Reportedly, the South Korean Financial Supervisory Service (FSS) recently held a meeting of its Securities and Futures Commission (SFC) to discuss the level of disciplinary action against Bang Si-Hyuk. What Are The Allegations Against Hybe Founder? The financial watchdog is investigating Bang over allegations that he misled investors by denying any plans for an IPO. With this, he encouraged them to sell their HYBE shares to a private equity fund (PEF) linked to him. This was around the time when HYBE was secretly preparing to go public. Therefore, when the company eventually did file for an IPO, Bang reportedly benefited through a 30% return-sharing deal with the PEF, a transaction not disclosed during the IPO process. This means that if found guilty and the gains exceed 5 billion KRW (approximately $3.64 million), Bang could face life imprisonment or a minimum of five years in prison. What Does HYBE Say About The Alleged Fraud? Previously, HYBE reacted to the controversy and claimed that 'all transactions were carried out legally by undergoing thorough legal reviews." 'We apologise for causing concern due to news related to our IPO process. We are actively cooperating with financial authorities and the police by providing detailed explanations and submitting relevant documents regarding the matters currently under investigation," its statement read. Reportedly, the company is also running a parallel investigation, but there is no official confirmation of this as of now. For the unversed, HYBE manages some of the biggest names in K-pop, including BTS, Tomorrow X Together, LE SSERAFIM, NewJeans, BOYNEXTDOOR, and KATSEYE. Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

News18

6 hours ago

• News18

Former NCT Member Taeil Submits Appeal In Court, Asking For Leniency

Taeil and the two other men were sentenced to three years and six months iprisonment for aggravated quasi-rape of a foreign woman in June 2024. Moon Tae-Il, aka Taeil, and two other men were sentenced to three years and six months in prison for aggravated quasi-rape, a serious sexual charge under South Korean law. Following the court's ruling on July 10, the former NCT member has now filed an appeal to reduce his sentence. Previously, the two other defendants also submitted their appeals to the court, seeking to overturn their convictions. On Wednesday, July 16, Taeil submitted his appeal to the Seoul Central District Court's Criminal Division 26, which was presided over by Chief Judge Lee Hyun Kyung. In his appeal, the K-pop idol stated, 'I want to contribute positively to society and will do my best to live a better life." His co-defendants filed their plea for leniency on July 15. The case began in June of last year, when Taeil and the two other non-celebrity men reportedly met the victim at a bar in Seoul's popular nightlife district, Itaewon. After having drinks together, they took the severely intoxicated woman by taxi to one of the defendant's homes and sexually assaulted her while she was unconscious. As per the Seoul Central District Prosecutors' Office, Taeil and his two accomplices were officially charged with aggravated rape under the Act on the Punishment of Sexual Crimes. The first trial for the case took place on June 18, over a year after the tragic incident occurred. Prosecutors claimed that the crime was pre-planned based on the messages that were obtained from their phones. DNA evidence was also found on the victim's body. The three men pleaded guilty to all the charges. Taeil and his co-defendants were convicted of aggravated quasi-rape on July 10 by a court in Seoul. The former NCT member was taken into custody following the court's ruling. The two other men, identified only by their surnames, Lee and Hong, were also found guilty in the same case and received similar sentences. The court reportedly stated, 'The defendants took advantage of the victim's incapacitated state to commit the crime. The nature of the offence is particularly egregious." They added, 'The victim is believed to have suffered significant psychological trauma as a result." While prosecutors requested a seven-year prison term, the court chose to reduce the sentence, citing the defendants' lack of prior criminal records. The prosecution side also filed an appeal to the court, arguing that their initial statement was too lenient, given the 'nature of the crime." view comments First Published: July 18, 2025, 09:54 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

United News of India

16 hours ago

• United News of India

India successfully test-fires Prithvi-II and Agni-I ballistic missiles

New Delhi, July 17 (UNI) India today successfully test-fired short-range ballistic missiles -- Prithvi-II and Agni-I from the Integrated Test Range in Chandipur, Odisha. The launches validated all operational and technical parameters, a Defence Ministry statement said. These tests were conducted under the aegis of the Strategic Forces Command. UNI RBE ARN More News Cong calls for foreign policy recalibration, slams India's abstention on Gaza ceasefire resolution 17 Jul 2025 | 10:15 PM New Delhi, July 17 (UNI) The Congress today accused the Centre's Narendra Modi government of causing a 'serious drift' in India's foreign policy and called for a 'comprehensive course correction' to restore the country's global stature and moral standing. see more.. ED Files chargesheet against Robert Vadra in Gurugram land scam 17 Jul 2025 | 9:25 PM New Delhi/Gurugram, July 17 (UNI) The Enforcement Directorate (ED) has filed a chargesheet against businessman Robert Vadra in connection with a high-profile land scam in Gurugram, Haryana. see more.. India rubbishes NATO chief's threatening of severe sanctions for trading with Russia 17 Jul 2025 | 8:05 PM New Delhi, July 17 (UNI) India today rubbished NATO chief Mark Rutte's threat of 'severe secondary sanctions' on countries trading with Russia and cautioned against any 'double standards.' External Affairs Ministry spokesman Randhir Jaiswal said India's overriding priority is to secure energy needs guided by what is available in the markets and the prevailing global circumstances. see more.. PM Modi meets South Korean delegation, recalls positive meeting with President Lee Jae Myung 17 Jul 2025 | 7:48 PM New Delhi, July 17 (UNI) Prime Minister Narendra Modi today met with a delegation of Special Envoys from South Korea during which he recalled his positive meeting with new South Korean President Lee Jae Myung in Canada, on the sidelines of the G7 Summit. see more..